Video game sales decline despite new consoles
After rising for five consecutive months, U.S. retail sales of new video game products — hardware, software and accessories — fell 0.6% year over year in January to $664 million, the NPD Group reported late Thursday. Hardware sales, though, jumped 47% to $241 million, thanks to sales of new consoles from Microsoft (MSFT) and Sony (SNE). Sony’s new PlayStation 4 outsold Microsoft’s new Xbox One in January, continuing the holiday season spending pattern. “Demand for PlayStation 4 remains incredibly strong as it was No. 1 in sales for next-gen consoles in January, nearly doubling the nearest next-gen competitor, and remains the cumulative leader,” Guy Longworth, senior vice president of PlayStation brand marketing at Sony Computer Entertainment America, said in a statement. “Although PS4 remains severely constrained at retail, we are working hard to refresh supply as quickly as possible.” Game software sales sagged 25% year over year to $224 million. A lower…