The video game industry had another rough outing in February as revenue fell 15% from last year. Total sales of games and consoles totaled $1.26 billion in the US.
Microsoft (MSFT) and Sony (SNE) at least gained ground from the first month of this year. Their console sales were up over January. Xbox 360 were 422,000 units, up from 322,800. PS3 sales were 360,100 units, up from 276,900 in January. Nintendo’s Wii sold 397,900 units, down from 465,800 .
Nintendo has a huge lead in console sales for over two years. Industry experts believe that the Wii platform is losing steam because its sales levels have reached a point of market saturation and it has fewer features that the PS3 and XBox 360. Microsoft and Sony have been aggressively adding new options to their consoles and have sharply dropped retail prices to bring their costs to the consumer closer to the Wii’s.
For the time being, it looks like Nintendo is in trouble, at least until it does a complete overhaul of the Wii.
Douglas A. McIntyre
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