the console (such as Xbox Live). Console manufacturers have even been known to take losses on the sale of consoles at the start of a console's launch with expectation to recover with revenue sharing and later price recovery on the console as they switch to less expensive components and manufacturing processes without changing the retail price. Consoles have been generally designed to have a five-year product lifetime, though manufacturers have considered their entries in the more recent generations to have longer lifetimes of seven to potentially ten years. Competition The competition within the video game console market as subset of the video game industry is an area of interest to economics with its relatively modern history, its rapid growth to rival that of the film industry, and frequent changes compared to other sectors. Effects of unregulated competition on the market were twice seen early in the industry. The industry had its first crash in 1977 following the release of the Magnavox Odyssey, Atari's home versions of Pong and the Coleco Telstar, which led other third-party manufacturers, using inexpensive General Instruments processor chips, to make their own home consoles which flooded the market by 1977. The video game crash of 1983 was fueled by multiple factors including competition from lower-cost personal computers, but unregulated competition was also a factor, as numerous third-party game developers, attempting to follow on the success of Activision in developing third-party games for the Atari 2600 and Intellivision, flooded the market with poor quality games, and made it difficult for even quality games to sell. Nintendo implemented a lockout chip, the Checking Integrated Circuit, on releasing the Nintendo Entertainment System in Western territories, as a means to control which games were published for the console. As part of their licensing agreements, Nintendo further prevented developers from releasing the same game on a different console for a period of two years. This served as one of the first means of securing console exclusivity for games that existed beyond technical limitation of console development. The Nintendo Entertainment System also brought the concept of a video game mascot as the representation of a console system as a means to sell and promote the unit, and for the NES was Mario. The use of mascots in businesses had been a tradition in Japan, and this had already proven successful in arcade games like Pac-Man. Mario was used to serve as an