Sony blames PlayStation 3 for profit slide

January 30, 2007

Sony has reported a profit of $US1.3 billion for the quarter ending December 31, a decline of 5.3% compared to the same quarter in the previous year. And it’s largely the fault of the PlayStation 3 (PS3), according to Sony.

Sony blames PlayStation 3 for profit slide

 Sony: it’s all the fault of the PS3

In a statement Sony blamed its decision to price the PS3 below the cost of production (obviously in an attempt to capture market share), and the start up costs involved in launching the new console, for the profit slide. The PlayStation Portable has also been a slow mover, the company said. 

Some analysts had expected the net profit to be slashed in half, so the results are actually not too bad.

However, Sony’s willingness to blame the PS3 for its problems does not bode well for the new console.

Sony had been hoping that the PS3 would follow in the steps of the PlayStation 2, which has sold more than 106 million units since its introduction in 2000. That said, the PS3 has a long way to go.

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