October U.S. video game sales decline
NPD Group market researchers are citing figures of October U.S. retail sales of video games falling to $365 million a 24% decline from 2004. 2005 was a mjaor release year. October console game sales estimated at $294 million and handheld games estimated at $71 million.
“We do not believe that recent weakness will persist, and expect a sales rebound in November and December,” said Wedbush Morgan Securities analyst Michael Pachter.
For the 10 months ended Oct. 31, video game sales were up 1 percent from the same period in 2004 to $3.7 billion. Many game publishers have reported soft sales amid a transition to next-generation consoles. Many video game enthusiasts are putting off purchases until the new machines are released. This holiday season is predicted to be the turn around point with the November 22 release of Microsoft Corp. new console Xbox 360 launches.
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