Video game crash of 1977

The video game crash of 1977 (also known as 1977 video game crash or the forgotten video game crash) is one of the first times the video game industry "crashed". This event is mostly attributed to Pong-clone home video game consoles, and such. Many video game companies went broke in this crash because they had to make their game consoles cheaper due to the high number of concurrent products. It is followed by the video game crash of 1983.