Holiday Sales Puzzle Video Game Industry
Date: Thursday, December 11 @ 19:53:11 UTC
Topic: Xbox General



Signs pointed to a great holiday season for video game sales. So far, the signs were wrong.
Video game sales are failing to meet expectations, a turn of events that has analysts scratching their heads — and downgrading the stocks of game publishers.

The lack of a must-have video game is one reason for disappointing sales, analysts say. They also say newer games have a longer life, thus delaying new purchases.

On Thursday, consumer electronics retailer Best Buy Co. reported that comparable store sales for video game software fell by "the low double digits" for the quarter ended Nov. 29.
Most industry executives and analysts expected strong video game sales this season, thanks to lower-cost game consoles and a larger installed base of game consoles since last year. Sony Corp.'s PlayStation 2 console and Microsoft Corp.'s Xbox console sell for $179 this year, 10% less than last year. Nintendo Co.'s GameCube sells for $99, 33% less than last year.


News-Source: http://investors.com





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