Coleco shuts down video game division

ColecovisionColeco Industries formally announces the complete discontinuation of its Adam computer and the Colecovision home video game console, after revealing a $55,000,000 loss for 1984, a loss incurred largely by the market failure of Adam; only the hugely popular Cabbage Patch Kids dolls, another Coleco product, keep the company from losing any more money. Coleco’s remaining game and computer stock is sold to closeout retail chain Odd Lot, and the video game market crash claims another victim.

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