) -- Video game sales reported a sharp decline in October, but are expected to rebound with some big launches this month.

Market research firm NPD Group said total video game sales sank 19% in October to $1.07. Consoles plunged 23% to $380.7 million and game software fell 18% to $572.7 million.

Even price cuts on consoles from companies like


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have had little meaningful impact.

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And it looks like more price cuts are on the horizon. On Thursday, Toys 'R Us announced that from Nov. 14 through Nov. 16, it will be selling Nintendo's Wii console for just $99.99 with the purchase of a Wii Starter Bundle for $249.99. The toys retailer will also offer discounts on Xbox 360, Wii and PlayStation games.

The industry is on track to generate full-year revenues between $20 billion and $21 billion, slightly lower than last years' $21.3 billion, NPD said.

Earlier this week, video game retailer


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removed from Goldman Sachs' conviction buy list

, after the company reaffirmed its original third-quarter guidance.

Electronic Arts


also announced this week that it will slash 1,500 jobs.

But there are still some bright spots.

The launch of


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"Call of Duty: Modern Warfare 2" earlier this week and the upcoming "Assassin's Creed 2" from


and "New Super Mario Bros." from


are expected to boost video game software sales in November.

"Call of Duty" broke records when it was released on Tuesday, raking in about $310 million in North America and the United Kingdom.

-Reported by Jeanine Poggi in New York.

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