No Recession (So Far) for U.S. Video Game Makers
U.S. sales of video game hardware and software rose 10 percent in November from a year earlier, market researcher NPD said recently, as Nintendo Co Ltd reported its Wii console and DS hand-held system both set U.S. sales records in the month.
NPD said the U.S. video game industry is set to top $22 billion in 2008, and Nintendo, Microsoft Corp and Sony Corp said their strong sales in November showed that consumers are still spending despite the global economic crisis.
Rising unemployment and tighter credit have dented U.S. consumers' purchasing power, and most retailers have posted dismal sales results in recent months.
But the U.S. video game industry "continues to set a blistering sales pace," NPD analyst Anita Frazier said, with hardware and software sales strong even though this November had seven fewer shopping days than last year's.
Nintendo's Wii console sold over 2 million units in November, up from over 800,000 in the previous month, setting a record for console unit sales in a non-December month, Nintendo said. Nintendo's Wii console has sold over 15 million units since its release in November 2006 and holds the title as the country's best-selling video game console.