Analyst warns US console market faces worst crisis since the early 1980s as Xbox sales fall 33%

Circana analyst Mat Piscatella warned that the US console hardware market faces its most severe crisis since the industry crash of the early 1980s. Through August this year, US Xbox hardware sales fell 33% year over year and PlayStation sales fell 25%, the latter hitting their lowest point since 2013. Rising prices are the main cause, with the average US price of a new Xbox at $529, up 26%, and a new PlayStation at $597, up 20%, both record highs.