Nintendo has confirmed that it will follow in the footsteps of Microsoft and Sony, and go forth with its own online gaming network.

While details on Nintendo Network (NN) are slim at the moment, Nintendo's President Satoru Iwata, has noted that the network will offer "competitions and communication among users, as well as the sales of digital content."

A launch date for the Nintendo Network wasn't specified, but it will accompany the 3DS, and Wii U consoles. Gamers have been told that elements of what NN will have to offer, can be found in downloadable content for Theatrhythm Final Fantasy, and the community aspect of Mario Kart 7.

Yesterday, Nintendo unveiled its quarterly numbers for the October to December 2011 period. It reported profits of nearly US$631.6 million. This is a 61% drop when compared to the company's Q4 2010 numbers.

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