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E3 on its way, more games for the current-gen consoles expected

Prior to the the video game industry's annual expo next week, anticipation is running high that cheaper hardware and new games will fuel the strongest sales in years.

The annual expo next week of the video game industry, Electronic Entertainment Expo or E3, is one of the most keenly awaited events. Naturally, as it gives investors a peek into the $30 billion global industry that rivals movie and music businesses. And as the market for video games is expanding beyond the traditional teenage audience, anticipation is high that cheaper hardware and newer games will trigger record sales.

The biggest expectation is that Sony will slash the price of its PlayStation 3, stuck in the last place among new gaming machines due to its $600 cost and thin line-up of games. However, if Microsoft were also to respond by trimming prices on Xbox 360, pricing strategy can do little for Playstation 3. With its Wii console enjoying unprecedented success owing to affordable pricing and gaming choices, Nintendo certainly won’t tinker with its prices, say analysts. Instead, Nintendo is likely to announce new features for the Wii or unveil a redesign of its popular DS handheld gaming device.

Similarly, many are expecting to check out an array of new games at E3, which will mark a turning point for the industry after a longer-than-expected transition to new consoles. The new game titles could also be a catalyst for the shares of publishers, who feel returns in the industry are better than in all other media and entertainment sectors.

[ Via reuters ]