And Turtle Beach will profit from PlayStation 5’s new technology with their own hardware.
„PlayStation 5 is expected to have custom 3D audio designed to excel with headsets. Xbox is working on integrated cloud gaming to lower the barrier to entry for playing new games. Both are exciting developments on the new consoles that will of course also set a new bar for graphics and processing power.
Meanwhile, the older consoles will continue to constitute a strong installed base of headset buyers. Last quarter, PlayStation 4 hit the 100 million mark for cumulative units sold and Xbox One to hit about 50 million according to DFC [DFC Intelligence is a company that analyses the gaming industry – the ed.]. I believe this is the first time that new consoles had been announced ahead of the prior holiday season, so it’ll be interesting to see how this impacts the market. If this new console cycle follows the pattern we’d expect, the first year or two after launch will show higher than average growth rates for consoles and console accessories.
DFC has said that with the launch of the new systems, and continued sales of the current consoles, it forecasts that the combined hardware sales will set records in 2021 and 2022. Our console product portfolio plans also reflect 2020 as an important transition year with a focus to have key new Xbox and PlayStation products launched next year ahead of the expected uptick in 2021, very exciting,” Jürgen Stark, the CEO of Turtle Beach, said.
So they will reap a lot of profit by effectively having their products ready by the launch of the PlayStation 5 and the Xbox Project Scarlett, and then see their profits grow even higher along with the two consoles’ growth rate. A wily business tactic… but at least Stark underlined that the gaming industry continues to grow.
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