Responding to critics that say the market for the Nintendo DS may be drying up soon, Nintendo President Satoru Iwata not only disagreed with the criticism, but argued that the Nintendo DS has more growth potential in the coming years.

“Some say the market for the DS is saturated, but I disagree. In Japan, a country with a population of 127 million, we’ve sold 23 million DS units. The United States is inhabited by over 300 million people, and there are more than 490 million people in the European Union,” Iwata told the The Daily Yomiuri. “Sales of the product could grow further in foreign countries considering their populations.”

Iwata also pointed to the growing gaming population in Europe as well as the Nintendo DS entering the Russian and Indian game markets.

The Nintendo executive also noted the success of Nintendo’s latest iteration of the DS hardware, DSi, as another potential growth driver.

“Nintendo DSi, the latest version of the DS series, was launched in November and sold 500,000 units in the first month. The product includes new functions such as a camera and the ability to download software through the Internet to customize it for the individual,” Iwata said. “We hope this will create a trend in which each family member will have his or her own DSi with their favorite software installed.”