Shortage of Memory and Storage Chips Drives Up Prices, Pushing Game Hardware Sales to 13-Year Low

A global shortage of memory and storage chips is dealing a severe blow to the gaming industry. Microsoft, Nintendo, and Sony have all raised their console prices to offset rising component costs and the impact of previous tariffs. These price hikes have directly caused a sharp decline in sales. According to market research firm Circana, game hardware sales dropped 15% year-over-year in August, marking the lowest sales volume for the month in 13 years.