Sega Genesis
Sega sold 30.75 million Genesis units worldwide. Of these, 3.58 million were sold in Japan, and sales in Europe and the U.S. are roughly estimated at 8 million and 18–18.5 million as of June 1997 (at which time Sega was no longer manufacturing the system) respectively. In 1998, Sega licensed the Genesis to Majesco Entertainment in North America so it could re-release the console. Majesco began reselling millions of formerly unsold cartridges at a budget price, together with 150,000 units of the second model of the Genesis. It released the Sega Genesis 3, projecting to sell 1.5 million units of the console by the end of 1998. An estimated 3 million Genesis units were sold by Tec Toy in Brazil.
Sega
Though the Dreamcast launch had been successful, Sony still held 60 percent of the overall market share in North America with the PlayStation at the end of 1999. On March 2, 1999, in what one report called a "highly publicized, vaporware-like announcement", Sony revealed the first details of its "next generation PlayStation", which Ken Kutaragi claimed would allow video games to convey unprecedented emotions. The same year, Nintendo announced that its next generation console would meet or exceed anything on the market, and Microsoft began development of its own console, the Xbox. Sega's initial momentum proved fleeting as U.S. Dreamcast sales—which exceeded 1.5 million by the end of 1999—began to decline as early as January 2000. Poor Japanese sales contributed to Sega's ¥42.88 billion ($404 million) consolidated net loss in the fiscal year ending March 2000, which followed a similar loss of ¥42.881 billion the previous year and marked Sega's third consecutive annual loss. Although Sega's overall sales for the term increased 27.4%, and Dreamcast sales in North America and Europe greatly exceeded the company's expectations, this increase coincided with a decrease in profitability due to the investments required to launch the Dreamcast in Western markets and poor software sales in Japan. At the same time, increasingly poor market conditions reduced the profitability of Sega's Japanese arcade business, prompting the company to close 246 locations.