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Video Games Sales to Top $31 Billion in 2002 -Study | |
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| Time: 14:26 EST/19:26 GMT | News Source: Reuters | Posted By: Julien Jay | ||
The video games industry is on track for a record year in 2002, with global sales projected to increase by 12 percent to $31 billion, a new report by British research firm Informa Media Group said on Monday. The popularity of new video game consoles, including Microsoft's Xbox, Sony's PlayStation 2 and Nintendo's GameCube , is contributing to the torrid growth. Steep competition has forced the three console makers to engage in an aggressive price war in the U.S., Asia and Europe for their 128-bit machines in Europe, stoking record demand. Combined console and hardware sales will account for $22 billion, or nearly 70 percent of the market in 2002. | ||
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