Ever the the global economy took a hit due to the recession, one of the most lucrative sectors of the economy, which is the video games industry has suffered considerable losses, cut-backs and a massive decline in sales. However, investors are now looking at ways through which they hope to revive the video games industry. Some of these steps include, new high-end game titles, along with a good amount of cuts in the prices of some of the most popular gaming consoles.

The second half of the video games release season, is going to be dominated by big titles that are sure to make the gamers sit at the edge of their seats. On the other hand, the same scenario was played out in the first half of the year 2008, when big name tittles were released for various consoles, that saw an exponential jump in sales. The second half of the year 2009, is expected to see the release of some of the biggest titles in the gaming industry, such as Left 4 Dead, Assassin’s Creed, Call of Duty and Halo, that are expected to bring in in more revenue for the video games industry.

According to Mike Hickey (Analyst, Janco Partners),

“There are some big games coming out. The spark needs to come from price cuts on the hardware side to get the installed base breathing again. Once that happens, software will follow.”

Many analysts believe that, the price cuts in the consoles, won’t really bother the manufacturers as, users are less likely to spend on high cost consoles, especially in the times of economical recession. Furthermore, less prices on gaming consoles would enable the gaming industry to raise itself and generate greater revenues.

Via Reuters.