Video Games Off Their Game
SAN FRANCISCO (
) -- Not even the newest Madden launch could give life to the video-game industry.
The sector saw its sixth straight decline in August, tumbling by 16%.
As a result, in order for 2009 sales to come in flat compared with last year, sales in the last four months of the year would need to jump a total of 14%.
Game Over For Video Games
It is not an inconceivable goal. Late in the month,
Sony
(SNE) - Get Report
lowered prices on its PlayStation 3, as did
Microsoft
(MSFT) - Get Report
for its Xbox 360. The move has already had a positive impact on sales.
During the month all hardware systems, with the exception of the PlayStation 2, realized an increase in unit sales over July. PlayStation 3 was the biggest winner, soaring 72% from July.
Experts are speculating whether or not
Nintendo's
Wii will also take price cuts.
The sector, especially video game retailers like
GameStop
(GME) - Get Report
, will also look to this week's launch of
and
Guitar Hero 5
to boost sales for September.
-- Reported by Jeanine Poggi in New York
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