Video game crash of 1983The video game crash of 1983 was a large-scale recession in the video game industry that occurred from 1983 to 1985 in the United States. The crash was attributed to several factors, including market saturation in the number of video game consoles and available games, many of which were of poor quality. Waning interest in console games in favor of personal computers also played a role.
Video game consoleA video game console is an electronic device that outputs a video signal or image to display a video game that can typically be played with a game controller. These may be home consoles, which are generally placed in a permanent location connected to a television or other display devices and controlled with a separate game controller, or handheld consoles, which include their own display unit and controller functions built into the unit and which can be played anywhere.
Sega GenesisHome video game consoleThe Sega Genesis, known as the Mega Drive outside North America, is a 16-bitfourth generationhome video game console developed and sold by Sega. It was Sega's third console and the successor to the Master System. Sega released it in October 1988 in Japan as the Mega Drive, and in August 1989 in North America as the Genesis. In 1990, it was distributed as the Mega Drive by Virgin Mastertronic in Europe, Sega Ozisoft in Australasia, and Tectoy in Brazil.
NintendoJapanese video game companyNintendo Co., Ltd. is a Japanese multinational video game company headquartered in Kyoto. It develops, publishes, and manufactures both video games and video game consoles. The history of Nintendo began when craftsman Fusajiro Yamauchi founded the company in 1889 to produce handmade hanafuda playing cards. After venturing into various lines of business and becoming a public company, Nintendo began producing toys in the 1960s, and later video games.
XboxVideo gaming brand owned by MicrosoftXbox (stylized in all caps) is a video gamingbrand that consists of four main home video game console lines, as well as the streaming service Xbox Cloud Gaming, and online services such as the Xbox network and Xbox Game Pass. The brand is owned by the namesake division of Microsoft. The brand was first introduced in the United States in November 2001, with the launch of the original Xbox console.
MattelMattel, Inc. is an American multinational toy manufacturing and entertainment company headquartered in El Segundo, California. Founded in Los Angeles by Harold Matson, Ruth Handler, and Elliot Handler in January 1945. Mattel has a presence in 35 countries and territories. Its products are sold in more than 150 countries. Mattel is the world's second-largest toy manufacturer by revenue, after the Lego Group.
SegaSega Corporation is a Japanese video game company and subsidiary of Sega Sammy Holdings headquartered in Tokyo. It produces several multi-million-selling game franchises for arcades and consoles including Sonic the Hedgehog, Angry Birds, Football Manager, Phantasy Star, Puyo Puyo, Super Monkey Ball, Bayonetta, Total War, Virtua Fighter, Megami Tensei, Sakura Wars, Persona, and Like a Dragon/Yakuza. From 1983 until 2001, Sega also developed its own consoles.
Xbox Game StudiosXbox Game Studios (previously known as Microsoft Studios, Microsoft Game Studios, and Microsoft Games) is an American video game publisher based in Redmond, Washington. It formed part of Microsoft's new Gaming division in 2022, while founded as a division of the company itself. Xbox Game Studios, alongside ZeniMax Media, Activision Blizzard, Mojang Studios, and King, are part of the Xbox division led by Asha Sharma, who is chief executive officer of the division.
PlayStationSony's video gaming brandPlayStation is a video gamingbrand owned and produced by Sony Interactive Entertainment (SIE), a subsidiary of Japanese conglomerate Sony. The brand is recognized primarily for its series of home video game consoles, though it also includes handheld devices, online services, and other media products.
PlayStation StudiosPlayStation Studios (formerly SCE Worldwide Studios and SIE Worldwide Studios) is a division of Sony Interactive Entertainment (SIE) that oversees the video game development at the studios owned by SIE. The division was established as SCE Worldwide Studios in September 2005 and rebranded as PlayStation Studios in 2020 to include the PlayStation brand.
Competition (economics)In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products.
Sony Interactive EntertainmentSony Interactive Entertainment LLC (SIE) is an American, Japanese-owned, video game and digital entertainment company of Japanese conglomerate Sony Group Corporation. It primarily operates the PlayStation brand of video game consoles and products. It is also the world's largest company in the video game industry based on its equity investments and revenue.*As an Amazon Associate I earn from qualifying purchases.