April 25^th, 2008 (9:59am) - Nintendo President Satoru Iwata has made a statement, at Nintendo’s most recent analyst meeting, that while Nintendo’s has once again increased its sales projections for the next fiscal year, these projections are not based around the possibility of price cuts for its gaming platforms.

"Our earnings projection for the year is not based on hardware price cuts, and I don’t think we are going to need them."

This comment had been made the day after Mario and Zelda creator Shigeru Miyamoto announced that Nintendo’s operating profit more than doubled in the year ended March, and forecast a further 9 percent gain this year to 530 billion yen ($5.08 billion).

Thanks to the success of both its Nintendo DS and Wii gaming platforms, Nintendo has become the worldwide leader in both home console and handheld gaming markets. As the third-largest company in Japan, in regards to market value, Nintendo has not seen demand for its Wii console slow down since its release.