Nintendo briefly zipped past Sony in market capitalization on Monday to become one of JapanÃ¢â‚¬â„¢s 10 most valuable companies as it elbows the PlayStation maker out of its decade-long dominance of the game industry.
Nintendo joined global household names such as Toyota Motor, Honda Motor, and Canon on the Top 10 list before its shares erased earlier gains and ended the day lower.
The Kyoto-based company finished in 11th place by market value, just above Panasonic maker Matsushita Electric Industrial and below Sony. Those companies, the worldÃ¢â‚¬â„¢s largest and second-largest consumer electronics makers, both have sales more than eight times as big as NintendoÃ¢â‚¬â„¢s.
Ã¢â‚¬Å“It is becoming quite clear that Nintendo is taking back its market share from Sony in the console market while well defending its stronghold of portable games,Ã¢â‚¬Â Mizuho Securities analyst Takeshi Koyama said.
NintendoÃ¢â‚¬â„¢s Wii game console has outsold SonyÃ¢â‚¬â„¢s PlayStation 3 by three to one in Japan and by more than two to one in the United States so far this year, according to game magazine publisher Enterbrain and research firm NPD.