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Gamestop CEO Paul Raines on the outlook for the video game sector and Steve Jobs’ resignation as CEO of Apple.
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Are let's say we have -- warning we got Dell's warning this holiday season may be not so grade but just because these guys my dad serious issues doesn't mean the -- -- is over.
The year games sub CEO -- -- steadily huge holiday season could be.
In the offing He should now -- has already been loading up on.
A lot of his stuff up over instances right now very good to have you both nights -- Thanks for an invitation no great to be here I always do notice that into little boys -- mean that they -- -- in the years stores and they were always busy.
On some substance -- went on but you know a lot of those gains are not cheap.
You know what's driving -- what's really get what going on here.
Sure sure and you know you know Jamie is an exciting category it's driven mostly by title count.
You know not as much by the economic cycle it's a high value entertainment -- We're we're seeing more million -- sell titles for example for this holiday than ever before in our history and when you add that.
With our ability to trade games you know will take year old James I'm sure your voice trade -- this mine does.
Once once you couple that with all this new content it's a pretty exciting business we're bullish on holiday.
You know what confuses me or not there's no denying your success in a busy stores are up.
All the different platforms I mean there's it but it that that does it aversion for Xbox there's a version for PlayStation there's a version for.
You know the the week or what have you.
Why can't the industry agree.
On on one platform plays haulers I guess that would defeat the whole purpose right.
Well you know Neal those are manufacturer Sony Microsoft Nintendo they've built out and installed base that includes hundreds of millions of homes out there and parents so.
Have their own unique IP one of the things that's happening today is we're seeing tablets and phones become a new platform and you'll see us at holiday.
We think -- -- are congregate casual games site with some of the things we'll do -- holiday.
We think there's some new platforms emerging out there to add to those very successful ones we've had passed.
Did you get a sense though that people are.
Doing this because.
Of their frustration.
With the way things are going and I diseases psychoanalyze it but been done better to play then then then distant fields as pathetic.
Well I got to tell you -- -- -- -- is fun and you know people ask me all the time.
Do you play a lot of games both my kids I've got a daughter and -- -- they both tell me that how tough in your business -- -- video games but you know gaming is a great relief.
-- we're testing a streaming product that we're developing last night I was on it for two hours at home.
Playing it does help you felt that helps you deal with things and it's a lot of talk about call of duty as a fund title.
It really distracts you and people enjoyed it's a huge category on you know -- I don't wanna get you brought so -- -- this development well probably won't straight view as a big shock.
But apple CEO Steve Jobs -- says say He is resigning.
From a big company in a letter to the board has recommended that the company continue executing a succession plan that would named Tim Cook.
As the CEO of apple.
Net apple itself in the gaming world's.
Upcoming player but besides that what do you do is make up.
Of his departure.
From the scene on at least a day to day running Apple's.
Well you know -- I've not heard that Steve Jobs -- certainly an icon in the technology world you can't argue with what they've accomplished.
We've had quite a few conversations of apple in the past you know Tim Cook because very solidly to they've got a very deep -- so I think they'll continue to be a formidable player.
You know we're we've launched and trading business where we're having customers trade old iPods iphones and ipads and our business for credit.
Towards new games and the passion people have around that product I don't think that'll change.
OK and again -- I did not mean it it's it would desist literally just came onto our newsroom right now so I'm not trying to it's it's this ambiguous but you know I do wonder blows well with Steve Jobs.
Taking himself out of the day today are running out of about -- And again they overtures that apple has made -- to the gaming community and and elsewhere and in these -- the products.
You've had great success with some of those.
The 3-D.
At the cutting the prices as the Sony's cut the price and some of them as well I'm wondering if it's now the next wave.
Is justice.
A price cutting spiral.
What what do you see happen.
Well I tell you there's no question we recently had a price cut on the Nintendo 3-D S.
And the Sony PS3 there's no question that drives demand and one of the reasons we're excited about holiday.
Is because of those price cuts I think what happens -- is all of these consoles have a technology cycle.
And as they get older they cut price to drive demand and keep that installed base growing at the same time they're developing new innovative platforms and and they're not alone you know the apples of the world.
There's lots of manufacturers of tablets and phones that are out there are developing so I don't think it's a race to the bottom on price I think this is part of the natural cycle.
That evolves with technology platforms -- over -- thank you very much to -- stuff CDO.
Joining us at a Dallas Texas -- very good.
