This Week in the Business: 'Xbox 720, PS4 Must Show a Dramatic Leap in Quality'S

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

QUOTE | "Xbox 720, PS4 must show a dramatic leap in quality."—Epic CEO Tim Sweeney discussing what he expects from the Xbox 720 and the PS4 in terms of graphics capability.

QUOTE | "Holy shit, now what?"—Kaz Hirai, new CEO of Sony corporation, on the challenges facing him in dealing with Sony's $2.89 billion loss for the year.

QUOTE | "Wii U hardware is still changing constantly."- Team Ninja's Yosuke Hayashi talking about what it's like developing a new title for the Wii U.

QUOTE | "We were looking at uDraw as a bridge to the digital future, and it turned out to be a plank that we walked off of."—Brian Farrell, CEO of THQ, in a candid moment when explaining THQ's dreadful financial results for the last quarter.

STAT | 35.7% – Kindle Fire's market share among Android tablets in January, making it the #1 Android tablet versus the Samsung Galaxy Tab's 35.6% market share.

QUOTE | "I give a compliment to one of our competitors."—John Riccitiello, CEO of Electronic Arts, actually praising something that Activision did in creating the Call of Duty Elite subscription service.

QUOTE | "Xbox has effectively positioned itself to lead the way forward."—Scott Steinberg, game industry analyst and CEO of TechSavvy Global, discussing which console manufacturer has the best chance for the next generation.

QUOTE | "We are upgrading Nintendo to Super Mega Buy."—Asif A. Khan and Adam H. Kraus from Panoptic Management Consultants giving their reasons for why Nintendo stock is a great investment.

STAT | 38% – Percentage of Japanese adults that own a handheld gaming device as of October 2011, down from 42% in February 2011.

QUOTE | "Publishers don't reveal costs because the truth is that most still invest way too little."—Ed Del Castillo, president of Liquid Entertainment, talking about why game companies should reveal how much it costs to make a game.

STAT | $1 billion – Amount of revenue EA took in from digital products during the calendar year 2011, representing over 25% of their total revenue.

This Week in the Business courtesy of IndustryGamers.com

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