This Week in the Business: 'We'll be able to squeeze more from Xbox 360.'S

What's happened in the business of video games this past week...

QUOTE | "We'll be able to squeeze more from Xbox 360." - Epic design director Cliff Bleszinski notes that if Epic ships another 360 title this generation they should still be able to extract even more power from the console.

QUOTE | "We've learned how to take on Zynga." - EA Playfish executive John Earner talks about the likelihood of The Sims Social overtaking Zynga's CityVille to become #1 on Facebook.

QUOTE | "Social stealing play time from core games." - New research from Information Solutions Group (on behalf of Kabam) shows that social gaming has led to a 50% average decline in money spent on console games.

QUOTE | "The market for 3DS and Vita is shrinking." - Wedbush Securities analyst Michael Pachter weighs in on the portable battle and the impact of the imminent launch of iPhone 5.

QUOTE | "It was a bit shocking to see." - Sony Computer Entertainment boss of Worldwide Studios, Shuhei Yoshida, reacts to the confirmation that Nintendo is going to launch a second analog add-on for the 3DS.

QUOTE | "These people will push you around forever." - Ex-GameStop writer and Giant Bomb founder Jeff Gerstmann talks about how to deal with angry PR in a piece on becoming a games journalist.

QUOTE | "A complete shift to digital gaming delivery." - Despite the growing presence of digital games every day, EA CFO Eric Brown still does not envision the industry going all digital in "the foreseeable future."

STAT | $27 million – The money generated by 451,000 units sold of NHL 12 in its first week, which set a new franchise record for EA Sports' hockey series.

STAT | 1.5 million – The number of copies already pre-ordered for EA's Battlefield 3, which should see critical ratings of "at least" 80, according to Sterne Agee analyst Arvind Bhatia.

QUOTE | "The last large scale MMO to use subscriptions." - Sony Online Entertainment boss John Smedley talks about the prospects of BioWare's Star Wars: The Old Republic and how the industry is going free-to-play.

QUOTE | "PS Vita's in a league of its own." - Jon Peddie Research analyst Ted Pollak does not see Sony's portable being affected by smartphones as much as Nintendo 3DS.

This Week In the Business courtesy of IndustryGamers.com

(Top photo: Shutterstock)