Nintendo overtook Sony Corp in market value yesterday as the company that brought Mario and Donkey Kong to the world cranks up the pressure on its arch-rival, helped by the success of its Wii game console.
Nintendo has long dominated handheld video game machines and is now challenging Sony's crown in home consoles as the Wii outsells the PlayStation 3 several times over in key markets such as the US and Japan.
Nintendo's share price rose to as high as ?46,350 yesterday morning on the Osaka Stock Exchange, giving the Kyoto-based company a market capitalization of ?6.56 trillion (US$52.9 billion).
Sony shares, meanwhile, dropped to ?6,460 each, pushing its market value down to just shy of ?6.50 trillion as investors fret over prospects for the iconic Japanese company's video game and electronics divisions.
Sony, famous for the way it changed how the world listened to music with its Walkman portable music players, has struggled in recent years against innovative products like Apple's iPod and Nintendo's Wii.
Nintendo, meanwhile, has benefited from brisk sales and the weakness of the yen. Last week it edged ahead of another electronics giant, Matsushita Electric Industrial Co, in terms of market capitalization.
The Wii, known for its innovative motion-sensitive controller, outsold the PS3 by more than five to one in Japan last month, research from publisher Enterbrain showed.
April US sales of Wii consoles were quadruple those of Sony's PS3.
Sony has much riding on the success of the PS3, but its launch was plagued by delays and production problems, while Nintendo has proven a tough rival with its Wii console aimed at an audience wider than hard-core gamers.
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