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Hirai – We’re not “recession-proof”

Tuesday, 14th October 2008 21:01 GMT By Patrick Garratt

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Speaking to the Wall Street Journal at TGS, PlayStation boss Kaz Hirai has issued a note of caution to recent quotes saying the games trade will easily ride the wave of global recession, but has said it will be more resilient than standard manufacturing industries.

“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,” he said.

“We expect to do very well in the year-end shopping season.”

Microsoft’s John Schappert added that the financial downturn is likely to make people wary of spending, pointing to recent 360 price cuts as a boon for the system.

“When you look at people, who are certainly more price-conscious than ever, that price is something people are going to be looking at,” he said.

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