Grand Theft Auto IV Sells Over 6 Million Copies In Opening Week
Posted on: Thursday, 8 May 2008, 11:50 CDT
The release of “Grand Theft Auto IV” exceeded sales expectations, reaching more than $500 million in first week sales, and topping week one sales of Microsoft Corp.’s “Halo 3” on opening day alone.Take Two-Interactive Software Inc. said it sold about 3.6 million units when the game hit shelves on April 29, bringing in $310 million. “Halo 3” took in about $300 million during its opening week last fall.
The game has also inflated sales of Microsoft’s Xbox 360 and Sony Corp.’s Playstation 3.
"Retailers say roughly four out of every 10 Xbox 360 consoles sold also included the sale of a copy of 'Grand Theft Auto IV,'" said Aaron Greenberg, director of product management at Xbox 360 and Xbox Live.
Microsoft said Xbox 360 sales jumped 54 percent during the week of Take Two’s “Grand Theft Auto IV,” compared to the previous week . The company also said that more than 2.3 million people used the game on its Xbox Live online service, which is usually dominated by first-person shooter games.
Sony spokeswoman Laura Bakken said the company's 10 largest retailers have "all seen a pretty substantial lift" in PS3 sales, but she did not give specifics.
All of this is happening as Take Two is amid a $2 billion hostile buyout from rival Electronic Arts Inc.
Take-Two's shares were recently trading at $26.30, above EA's tender offer of $25.74 per share, which expires May 16.
"I don't think it changes the value of the company," said Wedbush Morgan's Michael Pachter. "I think we are going to end up with a Microsoft-Yahoo situation," with Take-Two Chairman Strauss Zelnick believing the company is worth more and EA chief John Riccitiello disagreeing.
Pachter said he expects the game to sell 12 million copies by the end of 2008. GTA's previous versions have sold more than 70 million copies worldwide.
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ARTICLE: "Critics Expect Unprecedented Sales of Grand Theft Auto"
Source: redOrbit Staff and Wire Reports
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