The macro-economy might be heading down the crapper, but the micro-economy of the videogame industry is doing just fine, thank you. According to industry analysts the NPD Group, videogame sales were 53 percent in June, mainly on the hardware strength of Nintendo's console and handheld and massive sales of PS3 exclusive action game Metal Gear Solid 4.
"The video games industry continues to perform in the face of an ever-increasingly difficult economic environment as many turn to more in-home entertainment," said NPD analyst Anita Frazier to Business Week.
Hardware sales grew 54 percent to $615.1 million from $399.2 million a year ago. Software sales jumped 61 percent to $872.6 million from $542.2 million.
While the DS and Wii topped the charts, selling 783,000 and 666,700 respectively, the big news goes to the PS3 that outsold the 360. Sony's console sold 405,500 units compared with 219,800 for the Xbox 360.
BusinessWeek: Video game sales soar 53 percent in June