GAME CEO: “Consumers Want New Hardware”

January 19, 2012 Written by Sebastian Moss

Struggling UK retail chain GAME believes that the industry needs new hardware launches to be revitalized.

After a 17.6% slump in sales over Christmas, GAME admits that it might not meet some of its EBITDA (earnings before interest, taxes, depreciation and amortization) covenants. But CEO Ian Shepherd thinks that the market will grow with the arrival of new hardware, telling MCV:

The weakness in the overall numbers was partly driven by the economy and consumer confidence issues. It was also driven by where we are in the hardware cycle. The hardware market was much more negative than the software market. That tells you the industry and the consumer is ready for more innovation there. Whether it is in the handheld space with 3DS and Vita or in the home space with Wii U – all of that will excite the consumer in coming back to the games market again.

Unfortunately for GAME, at CES Kaz Hirai insisted that the PS4 would not be revealed at this year’s E3, meaning that the next generation of PlayStation could still be some years away. But do you want new hardware? Let us know in the comments below.