Video game consoles first hit the market way back in the 1970s, with the most famous of the era produced by Odyssey and Atari. Games such as Pong, Space Invaders and Donkey Kong sparked a love affair with video games that still endures to this day. In 1977, Atari followed the success of the first Odyssey home video game console, releasing their own version the Atari 2600.

The buzz surrounding the development of video game consoles saw an over-saturation of the market with too many consoles and sub-standard games, leading to a crash in the late 1970s/early 1980s. A swing towards Japanese technology fostered a much-needed industry revival, with Nintendo releasing the iconic NES in 1985 and the Gameboy in 1989.

In recent decades, the market has been dominated by Microsoft, Nintendo and most notably Sony. However, as technology continues to evolve, with virtual reality, mobile devices and online gaming sites increasing in popularity, are video game consoles as relevant today as they used to be?

Moving Towards a Digital Future  – And Away From the Physical

In all aspects of our daily lives, we are seeing a shift towards a digital landscape. From banking to shopping and social interaction, internet and technology users appreciate the ease and convenience of digital platforms. The 21^st Century has seen large tech companies exploring the impact of a digital presence on their revenue.

The Covid-19 pandemic played an important role in the progression of digital media. Although this was underway before its onset, the pandemic accelerated the process with people being forced to change their habits. Multiple lockdowns resulted in isolation, with people having too much time on their hands to fill and being unable to shop for physical items.

Digital games became even more appealing. The convenience of an instant download negated the need to search in the shops and avoided face-to-face interaction, while enthusiastic gamers were able to boot up their machines at midnight to grab the latest release of a much-anticipated game.

The Launch of the Smartphone

The advent of the smartphone changed the mobile phone industry beyond recognition. With the launch of the iPhone in 2007, closely followed by Google’s release of its Android system in 2008, users now had a whole vista of opportunity at their hands. The iPhone and Android featured fully functioning internet browsers and app stores, moving beyond phones which were purely designed for calls and messaging.

Wireless cellular technology has made massive strides since its humble beginnings; 1G only allowed users to communicate via calls, while 2G ushered in text and picture messaging. 3G improved data speeds and supported web browsing. In today’s digital age, the increased capabilities of 4G have opened the door for even more possibilities.

Even though 5G is still in its infancy, the industry is already looking ahead to the impact of 6G, with even faster download speeds. If we can accomplish even more with our mobile phones, it begs the question of whether consoles may one day lose their appeal.

Mobile Phones are Revolutionizing the Gaming Industry

The software underpinning the mobile gaming industry is becoming even more sophisticated, with immersive graphics and increasingly realistic settings. The quality of mobile games is vastly superior to their initial starting point and can hook users in very quickly.

As users have a vast plethora of games to choose from in the App stores and can download them instantly at the touch of a button, the cost of playing games on mobile devices is drastically reduced in comparison to video game consoles. Increased storage and data allow mobiles to cope adequately with both apps and gaming websites. From immersive VR simulators to traditional online casino games like blackjack, the possibilities of gaming online are endless across multiple devices – be it desktop or mobile.

From the first mobile phones which made voice calls possible, we now have smartphones which entertain us on the commute, or sat in a waiting room for an appointment. We have become accustomed to amusement at the touch of a button, both at home and out and about.

Does This Signal the Decline of the Video Game Console?

The move towards a more digital gaming landscape is not a new concept, with tech giants Microsoft and Sony focusing on the possibilities afforded by mobile and online gaming. Comprising nearly 57% of total, global video games revenue throughout 2021, it would be short-sighted not to invest in this growing market. With 5G becoming more widespread, users can enjoy even faster, more sophisticated gaming experiences.

In the US in 2021, there were 2,182 releases of new digital games compared to 1,324 in the previous year, while physical console game releases are decreasing. However, physical game releases are still eagerly anticipated, especially when the titles are part of a popular series. It may be that consoles become more of a niche genre in the future, with less widespread appeal.

As technology continues to advance, it is feasible that video game consoles will no longer hold the lion’s share of the market. Nevertheless, the tech giants that have delivered our favourite consoles continue to offer new, exciting releases, ensuring that they will continue to form part of our technological lives for many years to come.

Just to thank Eyitayo Adeleke, mMBA for bringing a lot of ideas to Tekedia programs. The day he told me that some learners would like permission to make our t-shirts, I was like “are you sure people will wear the t-shirts?” Fascinatingly, the learner-managed cup-, t-shirt-, hoodie-, and broad merchandize-idea has distributed hundreds of these items.

The biggest delivery was the day he went to Kwara State Government House to deliver a Tekedia t-shirt to the First Lady. She had sent 600 youth from Kwara State for Tekedia Institute to train them on business management. He led a team to the government house, and that is part of our history. See Eyitayo as he handed the t-shirt to First Lady, Amb Dr Mrs. Olufolake Abdulrahman.

I want to thank our Learners for making us feel great by buying these t-shirts which continue to bring us learners. Thanks. How many schools can boast that their learners graduate and are happy to spend their money to buy the school’s t-shirts?

If you need one, contact Eyitayo, I know nothing about it. He does all with our learners, from design to delivery. I thank our learners who spend their money on these shirts for honouring Tekedia Institute in this way. Thanks.

The video pic.twitter.com/35gd2yvKGl

— Ndubuisi Ekekwe (@ndekekwe) April 27, 2023

The proposed Abia State University’s Igba-Boi Centre will have a mandate to train and educate students and the world on the principles of Igba-Boi (the Igbo apprenticeship system), the Igbo worldview business philosophy of entrepreneurial capitalism and prosperity through enterprise, succession planning, retirement, etc.

The Centre will work to uplift and internationalize this Igbo heritage in this age of stakeholder capitalism, and upgrade, codify and modify where necessary the framework, for more international adoption. We expect the world to come to Abia and learn about Igba-Boi, and understand how the Igbos, for centuries, have been practicing what the modern world has called “stakeholder capitalism” as I wrote in Harvard https://hbr.org/2021/05/a-nigerian-model-for-stakeholder-capitalism

(Our expectation is that someone will fund and endow this center, and we do believe in the Economic Transformation team that institutionalizing Igba-Boi in a modern way, where our sons actually go to school, before going into trade/commerce, is going to be catalytic in the knowledge base of the state).

Invest in Abia because #AbiaIsBetter

Prof Ndubuisi Ekekwe

Co-Chair, Abia State Economic Transformation Transition Council