Sony Computer Entertainment America (SCEA) CEO Jack Tretton has told Reuters that PlayStation 3 sales this fiscal year are 30% higher than predicted. As a result, Tretton expects the console to break its ten million sales target by March 2009.
This headstart gives SCEA something of a safety net in the face of dismal market conditions. "Sales could slow down and we will still hit our number," boasted Tretton.
The videogame industry as a whole has proven remarkably resistant to economic slowdown: UK and Ireland retailer Game Group, for instance, recently reported a 33.4% jump in profits for the six months ending July 31 2008. One contributing factor may be the greater value-for-money proposition offered by videogames as against the likes of film and cinema.