Conventional wisdom says games are recession proof. Sony Computer Entertainment is not a conventional company and SCE head Kaz Hirai is not a conventional exec. So screw that wisdom. Well, sorta. Hirai doesn't think games are the market equivalent of Teflon, but does think gaming won't get hit as hard as other industries. Said Hirai:
I wouldn’t go so far as to say we’re recession-proof, but we expect to be hit much less than an auto company, for example... We expect to do very well in the year-end shopping season.
Good thing video games don't cost like 20 grand, huh? Microsoft also expects to do reasonably well with its recent price cut. As Microsoft exec John Schappert pointed out: "When you look at people, who are certainly more price-conscious than ever, that price is something people are going to be looking at." Keyword: "look." Sony, Microsoft Bullish on Game Systems [WSJ via VG247]