Xbox stands out in slumping game market
Microsoft console outperforms rivals despite its growing age
"The Xbox 360 from Microsoft Corp. MSFT +0.81% was the best-selling home videogame console last year in the U.S. market, moving a total of 7.3 million units for the year — about 62% more than the units sold by its two main competitors."
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Microsoft first launched the Xbox 360 in the fall of 2005, which will put the console in its seventh year of life by the time the next holiday season hits. That’s a long life for a home videogame console, especially considering that its predecessor device — the first Xbox — was only four years on the market by the time its replacement hit.
At its current pace, the Xbox 360 has also eclipsed the PlayStation 2 from Sony Corp. SNE +0.01% JP:6758 -2.38% , which spent six years on the market before its replacement PlayStation 3 arrived
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Despite its age, the Xbox 360 has actually gained momentum in the later years of its life. U.S. unit sales of the console in 2011 were up 6.5% from the prior year, compared to a 36% drop in unit sales for Nintendo Co.’sNTDOY +1.23% JP:7974 -0.27% Wii. By the end of January, the 360 has sold about 33 million units for its life to date in the U.S., according to data from the NPD Group, compared to 39 million units for the Wii and a little over 20 million units for the PS3.
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According to Doug Creutz of Cowen & Co., retail sales of game software for the Xbox 360 grew 12% in 2011 — making for a rare spot of growth in an industry that saw an overall 14% decline in new software sales for the year that was mostly driven by a 31% drop in sales of Wii software. Sales of game software for the Playstation 3 grew by 3% for the year, Creutz said.
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Full article here: http://www.marketwatch.com/story/xbox-stands-out-in-slumping-game-market-2012-03-06?link=MW-FB
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I do think that we sometimes live in a bubble on this site when it comes to the state of the market. I do think that the peak years may be behind us (and I mean, in general, not just this generation).
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