According to Nintendo, 1.5 million GameCubes were sold in Europe during 2002. This compares to the approximated Xbox sales of 1.4 million.

NOE managing director David Gosen said the strategy in 2003 would be to push new game titles rather than lowering the price tag.

"We intend to make 2003 a strong year for GameCube, in which we focus on new games and we intend to build on our number two position," European manager David Gosen told Reuters.

He said that over 80 new games would be launched for GameCube in 2003 and more than 60 new Game Boy Advance games.

Online -
Gosen downplayed the potential of online gaming in the near future, blaming the slow rollout of broadband connections throughout Europe.

"In the short term, it is clearly not going to be a significant market in terms of size," Gosen said.

Analysts have suggested that Nintendo is holding back on its online gaming plans to avoid the hefty investment costs involved.

"Online gaming is going to bring in revenues, no question about it," said Keen. "The question mark is whether you can keep costs down."