Breaking in the video gaming industry reports that overall video game sales dropped 23% this May as compared to last year. It also means sales are down below the one billion dollar mark for the first time since August 2007 (according to a report by the NPD group). Some blame the summer season and others blame the lack of good games released at this particular time of the year.

Video Game Sales Fall in May

Since last year, sales of video game hardware, software and accessories dropped from $1.2 billion to $863.3 million this May. Every category dropped versus last year’s standings except for portable hardware sales which are actually up a bit due to the Nintendo DS, DSi and Lite.

Of all the platforms selling, the Wii from Nintendo is still the favorite and showed May sales of 289,500 units. Microsoft Xbox came in second with 175,000 units and the PlayStation 3 from Sony can in with 131,000 units. Surprisingly, the PlayStation 2 is still making sales following in close to the PS3 with 117,000 units sold.

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