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GameStop: New hardware sales to shrink by 10% in 2016

On the back of a flat year for the company's game business, its execs are projecting further shrinkage in consoles and games for the year.

GameStop released its full 2016 financial results yesterday, which showed that the only part of the company that isn't growing is its core video game business.

That's not the worst of the news, however. In the conference call following the results, GameStop execs said that console sales would shrink by 10 percent, while new game sales will also drop 5 to 10 percent in 2016, VentureBeat reports

This might explain why both Microsoft and Sony seem open to upgraded versions of their current-gen game consoles. 

For more on the long-term downtrend in new game sales at the chain, read Gamasutra analyst Matt Matthews' take on the company's fortunes from last year.

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