Bloomberg: Sony profit may drop 50% on poor PS3 sales
byBlake Snow||January 29th 2007 at 2:15pmJanuary 29th 2007 2:15 pm
From the "PS3 still can't get a break" files come analyst predictions that Sony profits may drop 50% in fiscal Q3 off soft sales of the PS3. The Bloomberg report claims the drop "may highlight Chief Executive Officer Howard Stringer's failure to fend off Nintendo," and states the Wii is outselling the PS3 by two-to-one. For reference, PlayStation products are Sony's second-largest source of revenue.
Not all news was bad for Sony, however; the company may still exceed its full-year profit target due to strong sales of Bravia televisions, growth in the movie unit, and a weaker yen. But to say the PS3 is having a tough time gaining traction is an understatement.