Santa’s elves will have cold comfort up at the North Pole this year, as one of the biggest toy makers announced a disheartening sales prediction for Christmas sales.

According to Forbes, Early Light Industrial, a toy manufacturer owned by Hong Kong billionaire (how do we get that job?) Francis Choi is expecting toy sales to fall by as much as 30% from last year’s numbers.

One reason the toy industry will feel the squeeze is due to a shift toward cheaper games and online gaming in the pre-teen demographic.

Expected to do well are the timeless Nerf by Hasbro and something called Lalaloopsy dolls, predicts Choi. No word yet on whether Santa has agreed to produce those items or if he’ll be sticking to rocking horses and train sets.

Toy Industry Faces Tough Christmas Season, Billionaire Maker Says [Forbes]

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