A bundle of chips and motors....with a red, fuzzy exterior. Bloomberg Boot Camp, a report on today's technology. Elmo has gone higher tech....for a higher price this holiday season. The Fisher Price division of Mattel has begun selling Elmo Live...
"Elmo is the most magical Elmo ever. It's amazing. He'll tell stories, he sings songs, he stands up, he sits down. He tells jokes. He's just magical. It's like bringing Elmo home from Sesame Street."
Mattel Brands President Neil Friedman. The company and many toy retailers are counting on Elmo Live to spur sales this holiday season. But will the sixty dollar price tag....be too high ...given the tough economic climate?
"When you have a great toy that really delivers, this is really very affordable relative to other things in the marketplace. So I think Elmo will do very, very well just due to the fact that he is as terrific a toy as he is."
Friedman argues that in tough economic times....parents may sacrifice buying for themselves...but will still look for ways to keep their children happy. Still....
"Toy budgets will definitely be reduced. They might not buy as many toys, but they'll make sure that the child has a good experience. History tells us that the toy industry is not as susceptible as other industries are to bad economic environments during the holiday season."
Mattel Brands President Neil Friedman. ..who says the technology in toys like Elmo has gotten better and more affordable. Bloomberg Boot Camp, I'm Fred Fishkin.