As the effects of the current global financial downturn continue to spread, and with entire industries seemingly on the brink of collapse, we can’t help but note that over at Nintendo the case is actually quite the opposite. In fact, while it continues to draw strength from its Blue Ocean Strategy, Nintendo is poised this holiday season to dominate the gaming console arena for an unprecedented third year in a row. Nintendo’s mold-breaking product, “the Wii,” is poised to become the most successful entertainment product of all time.
As SFGate reports:
"Everything about the Wii is unprecedented," said Cammie Dunaway, Nintendo of America's executive vice president of sales and marketing. "The strategy of making it fun for anyone to play video games, the innovation with the Wii remote and the broad category of titles and the sales levels, it's all unprecedented."
The tough economic times might actually be lifting Nintendo's sales. The relatively cheap price of the $250 Wii console, along with its appeal to an entire family, makes it an even more appealing choice for households, said Dunaway.
"Families are looking for inexpensive and fun activities that they can enjoy at home together, and the Wii solves that need," she said.
Ted Pollak, market analyst for Jon Peddie Research and portfolio manager for the Electronic Entertainment Fund, said the Wii has the chance to be the most successful entertainment product ever. He credits Nintendo with expanding the market to include not just hard-core gamers but more women, girls and older players.
"Nintendo came up with a platform that's unique in that it appeals to core gamers and totally untapped gamers," Pollak said.
Two years ago, when the latest generation of hardware fully got under way, analyst Michael Pachter of Wedbush Morgan Securities projected the PlayStation 3, the Xbox 360 and the Nintendo Wii would walk away with about equal shares of the market. Now, he says the Wii could sell as much as its other two rivals combined and ultimately eclipse the lifetime sales of the PlayStation 2, which he once thought was untouchable.
The tough economic times might actually be lifting Nintendo's sales. The relatively cheap price of the $250 Wii console, along with its appeal to an entire family, makes it an even more appealing choice for households, said Dunaway.
"Families are looking for inexpensive and fun activities that they can enjoy at home together, and the Wii solves that need," she said.
Ted Pollak, market analyst for Jon Peddie Research and portfolio manager for the Electronic Entertainment Fund, said the Wii has the chance to be the most successful entertainment product ever. He credits Nintendo with expanding the market to include not just hard-core gamers but more women, girls and older players.
"Nintendo came up with a platform that's unique in that it appeals to core gamers and totally untapped gamers," Pollak said.
Two years ago, when the latest generation of hardware fully got under way, analyst Michael Pachter of Wedbush Morgan Securities projected the PlayStation 3, the Xbox 360 and the Nintendo Wii would walk away with about equal shares of the market. Now, he says the Wii could sell as much as its other two rivals combined and ultimately eclipse the lifetime sales of the PlayStation 2, which he once thought was untouchable.
Related articles from CreatingBlueOceans.com:
Nintendo’s Blue Ocean pay day — defying the global crisis
Nintendo plays with Blue Ocean Strategy and wins
Nintendo’s Blue Ocean washes over Sony
You’re never too old to get back in the game!
Nintendo plays with Blue Ocean Strategy and wins
Nintendo’s Blue Ocean washes over Sony
You’re never too old to get back in the game!
[Image via SFGate.com]
