Xbox One sales top 3 million after launching in Nov, no new Sony data

January 8, 2014 Leave a comment

Xbox One sales top 3 million, no new Sony data

1:30pm EST

SEATTLE (Reuters) – Microsoft Corp said on Monday that sales of its new Xbox One game console topped three million at the end of last year after launching in November.The third generation of the Xbox is competing head-to-head with Sony Corp’s PlayStation 4, also launched in November. Sony said it had sold 2.1 million PS4s by the first week of December.

It will not be clear which company is leading the console battle until Sony updates that figure.

The sales of the new Xbox are in line with expectations, said Michael Pachter, an analyst at Wedbush Securities, who also estimates PlayStation sales around the 3 million mark.

Hot sales of both consoles have been a boon for Advance Micro Devices Inc, which developed or supplied chips for both devices.

Filed under TMT Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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