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Console industry down by 6% to $1.18 billion

Posted by Yaser on February 17, 2008

The US gaming industry ended 2007 with record retail sales of nearly $18 billion. This week, though, the NPD Group provided a sobering reminder that market growth is not guaranteed. Today, the industry-research firm released its US retail sales data for its January 2008 reporting period. While software sales for the month were up 11 percent to nearly $611 million for the month, hardware sales fell by a quarter to about $378 million. Combined with modestly declining accessory sales, the overall industry was down 6 percent for the month, posting $1.18 billion compared to January 2007’s $1.25 billion take.Despite that, the month contained indications that the industry actually grew. That’s because NPD’s January 2007 reporting period was actually five weeks long as opposed to this January’s four-week span. NPD analyst Anita Frazier noted that the numbers are much rosier when that adjustment is taken into account. “At the top-line, on an average sales per week basis, January 2007 was actually up nearly 18 percent as compared to last year,” Frazier said. “And the big winner was console software which was up nearly 50 percent when compared on a level playing field to last year.” However, even on a week-by-week basis, hardware sales were still down 6 percent from last year. Frazier blamed that slide on price cuts made to the consoles, and speculated that hardware shortages in the wake of stellar December sales contributed to January’s slide. That assertion was backed up a statement from Microsoft saying the Xbox 360 was suffering from temporary shortages.

Source: Gamespot

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One Response to “Console industry down by 6% to $1.18 billion”

  1. FX360 said

    Hi,
    Its really fantastic to read this kind of the post .This is really a good creation . This is really awesome ….Video games are bad for you? That’s what they said about rock and roll.I recently learned something quite interesting about video games. Many young people have developed incredible hand, eye, and brain coordination in playing these games. The air force believes these kids will be our outstanding pilots should they fly our jets.Movies and acting in general are art forms, so is music, painting, graphics, sculpture, and so on. Some might even consider classic games like chess to be an art form. Video games use elements of all of these to create something new. Why wouldn’t video games be an art form?Video games are a waste of time for men with nothing else to do.

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