According to a Bloomberg report, Sony Corporation is expected to report abysmal quarterly earnings tomorrow, potentially their biggest lost in 4 years. This is all because of the terrible sales of the Playstation 3 console (and the high costs of making/distributing it).
The report states that five research analysts expect Sony’s game division to post a quarterly loss of $1 billion USD, which would completely wipe out expected profits from the rest of the company’s divisions. This includes offsetting the monster box office sales of Spider-man 3 and the sales of Bravia HDTVs.
This is not a surprising development. PS3s are collecting dust in retail stores and Sony took a huge gamble in making such a high cost / high price point system. Perhaps they had too much confidence in their brand coming in from the previous generation of consoles.
- No Comments
