Fresh off strong Black Friday sales of its XBox 360 videogame consoles, Microsoft Corp is "cautiously optimistic" about the holiday shopping season, a senior executive said on Wednesday.
But things could get tougher next year, said Shane Kim, Microsoft's vice president of strategy and business development for the videogame business, as the economy gets sicker and people cut back spending even more.
The video game business is on track to grow 20 percent this year, Kim told the Reuters Media Summit in New York, but "people are not projecting that kind of growth" for 2009.
"Who knows, maybe flat performance will be considered a remarkable achievement," Kim said. "It's difficult to predict the future," he said, adding that the gaming industry has traditionally fared well in economic downturns as people turn to stay-at-home entertainment.