Video Game Industry Could Receive a Boost as China Considers Lifting Ban on Video Game Consoles
February 15, 2013 at 08:20 AM EST
Five Star Equities Provides Stock Research on Nintendo and Sony
NEW YORK, NY -- (Marketwire) -- 02/15/13 -- The video game market underwent a major transformation in 2012 as consumers began to shift away from traditional console games to mobile-based games on their smartphones and tablets. According to data from research firm NPD physical game sales in 2012 declined 22 percent to $8.88 billion, while sales of digital games grew 16 percent to $5.92 billion. Five Star Equities examines the outlook for companies in the Video Game Industry and provides equity research on Nintendo Co., Ltd. (PINKSHEETS: NTDOY) and Sony Corporation (NYSE: SNE).
Help may be on the way for the struggling video game industry as China Daily recently reported China is considering lifting its ban on game consoles after 13 years. China's video game industry was worth an estimated 60.28 billion Yuan (approx. $10 billion) last year, according to TechWeb's 2012 China Game Industry Report.
"We are reviewing the policy and have conducted some surveys and held discussions with other ministries on the possibility of opening up the game console market," a source within the Chinese Ministry of Culture told China Daily, "However, since the ban was issued by seven ministries more than a decade ago, we will need approval from all parties to lift it."
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Nintendo is engaged in the manufacture and sale of home leisure equipment. The company provides various gaming machines, including Nintendo 3DS, Nintendo DS, and Wii. Nintendo in its recent earnings release raised its full-year financial forecasts. Net income for the fiscal year 2013 is now expected to be 14.0 billion yen, more than double its previous forecast of 6.0 billion yen.
Sony has recently announced a major event on Wednesday, February 20th in New York to discuss the future of the PlayStation business. It has been widely speculated the company will release details of its next generation PlayStation 4 console at the event. Shares of Sony have surged nearly 30 percent year-to-date.
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