E3 "virtually useless for retail and investors" - Pachter

No surprises or access to execs dampens analysts mood for annual showcase

Leading analyst Michael Pachter has said that the annual E3 Media and Business Summit offers no business opportunities for the investment and retail communities.

Before its downsizing last year, E3 was seen as the yearly event where retail could see products for the first time, meet with publisher execs and evaluate titles for the coming Christmas season.

"The conference used to offer retail, media and investors an early look at games and an opportunity to speak with company managements," says Pachter, speaking to The

“Now the games have long since been announced and the event is virtually useless for retail and for investors."

However, the event clearly does still have an effect on the industry as a whole. Media, retail and the rest of the games business will be watching the Los Angeles event closely next week for new announcements.

Todd Greenwald, of analyst Signal Hill, said yesterday that as well as an upcoming price cut for the Xbox 360, he expects Microsoft may unveil a new motion sensitive controller in an attempt to regain audience share lost to Nintendo's Wii.

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