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at 6:30PM PST on February 8, 2008.
Except for the fact that the Wii still sells to parts of the hardcore market and has support for the hardcore market. Also, there will still be people that will purchase the Wii even if there is a recession in the U.S. as it is in high demand and still hundreds of thousands that wanted to get it it during the holiday season and could not because of supply issues. A recession in 2008 is very doubtfully going to have any significant effect on videogame sales.
May I quote a recent
"The major misconception is that the recession which is expected to hit the United States this year (with knock-on effects for the rest of the world) is seriously bad news for games.
It is, of course, bad news for every aspect of the economy - but of all the "luxury" markets, videogames are the least likely to suffer a negative effect. The peaking of this generation of consoles, combined with falling prices of hardware, will more than counteract any negative effect from an overall slump in consumer spending.
While, [it is argued], games are luxuries that nobody "needs", they are generally seen by consumers as cost-effective luxuries. Recession will mean people staying at home more rather than going out, or going on holiday, and videogames, which offer many hours of entertainment in return for their initial investment, will help to fill that gap in people's leisure time."
While the entire article is talking about mostly other topics, it touches upon the recession fears in relation to the entire videogame industry.
Also, just to make it clear, I have not been discussing the recession impact in the context of the current stock prices for the Wii GLS. Though I do believe that the current stock prices have gotten out of hand (at this time, this stock should be at the most 100 million units sold worldwide because of a multitude of reasons including the worries about lifespan for the console and supply issues).
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