<P> In console gaming, Microsoft stepped forward first in November 2005 with the Xbox 360, and Sony followed in 2006 with the PlayStation 3, released in Europe in March 2007 . Setting the technology standard for the generation, both featured high - definition graphics over HDMI connections, large hard disk - based secondary storage for save games and downloaded content, integrated networking, and a companion on - line gameplay and sales platform, with Xbox Live and the PlayStation Network respectively . Both were formidable systems that were the first to challenge personal computers in power (at launch), while offering a relatively modest price compared to them . While both cost more than most past consoles, the Xbox 360 enjoyed a substantial price edge, selling for either $300 or $400 depending on model, while the PS3 launched with models priced at $500 and $600 . Coming with Blu - ray Disc and Wi - Fi, the PlayStation 3 was the most costly game console on the market since Panasonic's version of the 3DO, which retailed for little under $700 . The PlayStation 3's high price led to the console being defeated by the Xbox 360 (also resulting in Xbox 360 gaining market leadership until 2008), thus breaking the streak of dominance that the PlayStation brand once had, which was started in 1994 with the success of the original PlayStation . However, the slim model and the PlayStation Move controllers caused a massive recovery for PlayStation 3, and the console would soon outsell Xbox 360 by 2013 . </P> <P> In this generation, Nintendo not only secured its dominance in the handheld video game market, but also successfully regained total dominance on both the home video game market and the entire video game industry with the release of its home console, the Wii . While the Wii had lower technical specifications than both the Xbox 360 and PlayStation 3, only a modest improvement over the GameCube and the only 7th - gen console not to offer HD graphics, its new motion control was much touted, and its lower pricepoint of around $200--$250 appealed to a larger demographic . Nintendo took cues from PC gaming and their crafted games that capitalized on the intuitive nature of motion control . Emphasis on gameplay turned comparatively simple games into unlikely runaway hits, such as Wii Sports, and Wii Fit . Many gamers, publishers, and analysts initially dismissed the Wii as an underpowered curiosity, but were surprised as the console sold out through the 2006 Christmas season, and remained so through the next 18 months, becoming the fastest selling game console in most of the world's gaming markets . As a result, the Wii became a global success and the runaway market leader of the seventh generate of consoles . As of September 2013, the Wii has sold 100.3 million units worldwide and is currently Nintendo's best selling home console . </P> <P> In June 2009, Sony announced that it would release its PSP Go for US $249.99 on October 1 in Europe and North America, and Japan on November 1 . The PSP Go was a newer, slimmer version of the PSP, which had the control pad slide from the base, where its screen covers most of the front side . </P> <P> With high - definition video an undeniable hit with veteran gamers seeking immersive experiences, expectations for visuals in games along with the increasing complexity of productions resulted in a spike in the development budgets of gaming companies . While some game studios saw their Xbox 360 projects pay off, the unexpected weakness of PS3 sales resulted in heavy losses for a few developers, and many publishers broke formerly arranged PS3 exclusivity arrangements or cancelled PS3 game projects entirely due to rising budgets . </P>

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