SONY’s Q3 Profits to Fall 50% on PS3 Stephen Fung January 29, 2007 It seems that everything that SONY is doing these days turns to crap. First exploding batteries, then botched PS3 launches, and now…falling profits… Even the little Nintendo Wii is giving it to the fallen giant… Losses from games probably drove net income down to 84.1 billion yen ($691 million) in the three months ended Dec. 31, from a record 168.9 billion yen a year earlier, according to the median estimate of five analysts surveyed by Bloomberg. Sales at Tokyo-based Sony, which reports earnings tomorrow, probably rose 9.6 percent to 3 trillion yen. The results may highlight Chief Executive Officer Howard Stringer’s failure to fend off Nintendo, whose $250 Wii console outsells the PlayStation 3 by two-to-one. Sony may still exceed its full-year profit target because of a weaker yen, sales of Bravia televisions and growth at its movie unit. Source: Bloomberg Share This With The World!
