Sony’s newest console launches into a suffering industry
THESE days video games rival films as a form of entertainment. Sales figures
are murky, but most estimates put annual revenues at between $60 billion and $70
billion. So the launch by Sony, on February 20th, of the PlayStation 4, its
latest games console, was appropriately full of razzmatazz. Those attending the
launch in New York were treated to a dazzling light show and images of goblins
and ice goliaths from games for the new gizmo, which goes on sale towards the
end of the year.
Away from the glitz, though, the console industry is having a torrid time.
According to NPD, a firm of analysts, sales of consoles and other hardware fell
by a fifth in America last year. Sales of the games themselves are doing no
better. Both Sony and Microsoft, which makes the Xbox, a rival line of consoles,
have reported falling income from their games divisions.
