Indian gaming now a serious business for console makers
Sunday, 23 September 2007
Janaki Krishnan
India's nascent $30-million gaming industry is set to grow to $700 million in the next five years, driven by global companies that are pushing new generation gaming consoles in the Indian market, industry watchers said.
Microsoft Corp launched its XBox 360 in India in September 2006, the premium version retailing at 24,000 rupees, without taxes. In April this year, Sony Corp (6758.T) (SNE.N) launched its Playstation 3, priced at a hefty 39,990 rupees, complete with the latest blu-ray formatted optical disc drive.
The third major console maker Nintendo's Wii has not been officially launched in India, but is sold through various channels at a substantial discount to the Xbox and the PS3.
"The main drivers for the growth of the gaming industry in India would be seeding initiatives by the players, marketing, and pricing of the games - which is an important aspect in India," said Rajesh Jain, executive director, KPMG.
He said India's gaming market would go to $650-700 million in about 4-5 years from $30 million now, including the grey market.
Microsoft, with its first-mover advantage, is meeting the challenge head on. "The response to the XBox has been phenomenal...absolute demand has exceeded our expectations and plans," said Microsoft India's Mohit Anand, country manager (entertainment and devices).
People's perception of gaming has also changed. "It has gone from being a product for a cult group to a lifestyle product."
Tanisha Kaul, product head, PlayStation at Sony India, said that a study done prior to launch showed an increase in jobs, disposable incomes and internet usage were inclining more people towards a digital lifestyle and alternate means of entertainment.
"Indian consumers might catch everyone unawares by bridging the gaming gap with the developed markets more quickly than anyone could have imagined," she said.
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Internet
India's nascent $30-million gaming industry is set to grow to $700 million in the next five years, driven by global companies that are pushing new generation gaming consoles in the Indian market, industry watchers said.
Microsoft Corp launched its XBox 360 in India in September 2006, the premium version retailing at 24,000 rupees, without taxes. In April this year, Sony Corp (6758.T) (SNE.N) launched its Playstation 3, priced at a hefty 39,990 rupees, complete with the latest blu-ray formatted optical disc drive.
The third major console maker Nintendo's Wii has not been officially launched in India, but is sold through various channels at a substantial discount to the Xbox and the PS3.
"The main drivers for the growth of the gaming industry in India would be seeding initiatives by the players, marketing, and pricing of the games - which is an important aspect in India," said Rajesh Jain, executive director, KPMG.
He said India's gaming market would go to $650-700 million in about 4-5 years from $30 million now, including the grey market.
Microsoft, with its first-mover advantage, is meeting the challenge head on. "The response to the XBox has been phenomenal...absolute demand has exceeded our expectations and plans," said Microsoft India's Mohit Anand, country manager (entertainment and devices).
People's perception of gaming has also changed. "It has gone from being a product for a cult group to a lifestyle product."
Tanisha Kaul, product head, PlayStation at Sony India, said that a study done prior to launch showed an increase in jobs, disposable incomes and internet usage were inclining more people towards a digital lifestyle and alternate means of entertainment.
"Indian consumers might catch everyone unawares by bridging the gaming gap with the developed markets more quickly than anyone could have imagined," she said.
..............
Internet