NEW YORK, NY--(Marketwire -06/12/12)- Traditional video game companies have been facing stiff competition from the emerging mobile gaming market. Fewer consumers are willing to spend upwards of $50 for a console game when they can purchase games on their mobile devices for under $5. Video game giant, Nintendo, recently reported their first annual loss in over three decades. The Paragon Report examines investing opportunities in the Technology Sector and provides equity research on Microsoft Corporation (MSFT) and Sony Corporation (SNE).
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Gaming companies have been focusing on new and innovative ways to lure consumers back to the industry. At the recent Electronic Entertainment Expo (E3) the three heads of the gaming industry -- Microsoft, Nintendo, and Sony -- each displayed different ways for users to play games and access content across different screens. "I don't know who has the best approach," said Martin Rae, president of the Academy of Interactive Arts and Sciences. "I kind of like Microsoft's at this point, but it's going to be whatever is easiest, and then I think they'll all get it right."
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At E3 Microsoft unveiled new software called Xbox SmartGlass that streams content to user's smartphones, and tablets. The new software transforms smartphones into remotes to browse the web, and uses tablets as a map for their new game "Ascend: New Gods." "Xbox is on a mission to make the entertainment that you love even more amazing," said Don Mattrick, president of the Interactive Entertainment Business at Microsoft. "With Xbox SmartGlass, we are lighting up entertainment across your phone, tablet, PC and TV in a completely new way. If you love to play games, watch TV and movies, surf the Web, or listen to music, there has never been a better time to be on Xbox."
Sony's focus was the "cross-play" functionality of its Playstation 3 console, and Vita handheld device. "The future of gaming is something like 'PlayStation All-Stars: Battle Royale,' where you're playing against people all over the world, and some people are playing on a Vita and some people are playing on a PlayStation," said Jack Tretton, president of Sony Computer Entertainment of America.
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