As tablets and smartphones replace action figures and board games as gifts for kids under the Christmas tree, Mattel and Hasbro are reportedly “terrified” that their brands are becoming outdated. In a new interview, an expert on the subject claims the two toy companies are worried that they won’t have much of a future if things keep going the way they’re going.
“The top two guys, Mattel and Hasbro, they are terrified,” Sean McGowan, managing director of equity research at Needham & Company, tells the Financial Times (via BGR News). “They should be terrified, but the official party line is they’re not terrified.”
It seems as though the two companies do have cause for concern. Mattel’s highest-selling product of the year was a plastic cellphone case, and tablets and other forms of high technology don’t seem like they’re going anywhere any time soon. Though officially the companies aren’t expressing fears in regards to the tech revolution, it could be that we’ll see a rebranding in the future.