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September 26, 2009

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Video game firms hope price cuts revive sales

THE Tokyo Game Show, billed as the world's largest computer entertainment festival, kicked off yesterday with hopes that depressed sales of game consoles will enjoy a holiday resurrection.

Hurt by the global recession and few blockbuster releases, the video game industry has been in a slump for much of the year. United States sales of video games in August tumbled for the sixth straight month, according to market researcher NPD Group.

But the sector expects a better fourth quarter, especially now that the "big three" - Sony Corp, Microsoft Corp and Nintendo Co - have announced bold price cuts on their game machines. The show is seen as the last major international venue for gaming companies to showcase products and create momentum heading into the holiday shopping season.

Nintendo, which does not officially participate in the Tokyo Game Show, said before the event opened that it will slash US$50 off its popular Wii console to US$200.



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