Sony Corp.'s (NYSE: SNE) PlayStation 3 woes continue, as Nintendo Wii continues to pwn the new console. April video games sales rose 20%. PlayStation 3, which was launched alongside the Wii in November, sold just 82,000 units, down from 130,000 in March. Wii sold 360,000 units in the U.S., up from 259,000 in March.
Here's what's most telling: PlayStation 2, which was launched seven years ago outsold the PlayStation 3. Industry observers wondered whether PlayStation 3's price point was prohibitively high, and the continued interest in PS2 indicates that it probably was: Why buy PS2 rather than PS3 if not because of money? Sony will probably cut the price of the new system in time for the holiday season, and hope to recoup some of its investment on software sales.
Nintendo is also beating Sony as a game developer, scoring the top 4 biggest hits of the month. Activision Inc. (NASDAQ: ATVI) also had a good month.
If you're interested in buying stocks to capitalize on the upcoming sales of games for the next-gen console, here are some other options: Electronic Arts Inc. (NASDAQ: ERTS), THQ Inc. (NASDAQ: THQI), Take-Two Interactive Software (NASDAQ: TTWO), and Atari Inc. (NASDAQ: ATAR).
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