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Sony reports high demand in industry

  It was announced today that the videogame industry is at an all-time high, despite any problems concerning the country's economic struggles. Currently, 2002 sales of videogame hardware, software and accessories have exceeded $6 billion, a 25 percent increase in dollar volume versus the same period one year ago. Sales of PlayStation products surged to their highest levels this year with retailers nationwide selling more than one million PS2s in the first week of holiday shopping. According to NPD FunWorld the industry can expect to bring in an additional $4 billion by year's end, shattering 2001's all time record of $9.4 billion.

   "The videogame industry overall is stronger than ever this year and continues to outpace other entertainment categories," said Michael Gartenberg, research director with Jupiter Research. "As the industry leader having prevailing market share, Sony Computer Entertainment America acts as the barometer of health for the entire videogame industry -- if PlayStation does well, it's a good sign for other companies in the space, particularly those with ties to the company. Doing the heavy lifting for an entire industry also has its rewards, and it is expected that PlayStation will outperform competitors this holiday season, which can be attributed in part to the company's introduction of online console gaming."

   "Sony Computer Entertainment America understands what consumers want when it comes to entertainment, and we strive to deliver the best experiences to them through our constant introduction of new games and offerings like the Network Adaptor for online gameplay," said Jack Tretton, executive vice president, Sony Computer Entertainment America. "We are extremely pleased that consumers have overwhelmingly supported the PlayStation brand and continue to introduce the PlayStation lifestyle to new fans as they wrap up our products to give as holiday gifts."

12/16/2002 Matt Stensrud

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