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Microsoft shares have declined after it was revealed that worldwide sales of Xbox are not hitting their estimated targets.
Bloomberg.co.uk is reporting that sales of the Xbox in the USA trailed Analysts expectations by 33%, for the month of November. Microsoft apparently shifted 468,000 units, whilst Industry business boffin Bob Austrian (Banc of America Securities) had predicted sales of 700,000.
“Industry growth rates, for both consoles and video games, may be slowing, or at least, seasonally weaker than expected,” Austrian commented.
In Australia Sony Computer Entertainment Managing Director Michael Ephraim said last week ” Indications are that the Xbox is not selling as well as Microsoft expected. we are told by mass retailers like Harvey Norman that sales are slow. There is no doubt that Microsoft will be impacted by the launch this month of the Nintendo Wii. This product came from left of centre and now there are 3 players sitting at the table with strong offerings, Sony Microsoft and Nintendo. We have to live with the fact that we do not have the PS3 but we are still selling thousands of PS2 consoles”.
A Microsoft Australia person was not available to comment.
