Sony shares fall on Playstation concerns
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It has been an annus horribilis for Sony. The Japanese electronics company has been hit with a string of embarrassments that have dented its reputation for quality.
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Sony Corp. 6758.T shares fell to a   2-1/2-month low on Monday after Toshiba Corp. 6502.T and   Fujitsu Ltd. 6702.T joined the list of PC makers recalling   Sony-made batteries, increasing potential damage to its   earnings.
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Just when Sony appears to have turned around its electronics business, another part of its sprawling empire &#151; video games &#151; is dragging down profits.
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Although Sony is blaming its faltering profits partly on PlayStation 3 price cuts in Japan, a senior executive said yesterday that slashing prices further may be in store for the just-launched video game machine.
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By Evening Standard, London  Jan. 31--Electronics giant Sony is heading for a $2 billion (Â£1.01  billion) loss in its video games division after the surprise success of rival  Nintendo's Wii console.
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Shortages of Sony Corp.'s PlayStation 3 console may cause customers to hold off buying new video games, extending a period of slow growth for publishers including Electronic Arts Inc., the biggest.
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NEW YORK -- Sony Corp. on Thursday cut the price of its PlayStation 3 game console in the U.S. and announced an even cheaper model that will arrive before the holiday shopping season.
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The PlayStation 3 is no cure for Sony's blues.
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Shares in Sony Corp. (6758.T) fell to a 2  month low on Monday after Toshiba Corp. (6502.T) and Fujitsu  Ltd. (6702.T) joined the list of PC makers recalling Sony-made  batteries, boosting the potential blow to its earnings.
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Sony Corp. 6758.T shares opened 2.38   percent lower at 4,930 yen on Thursday after it said it would   delay the European launch of its PlayStation 3 (PS3) game   machine to March from November, missing the holiday shopping   season in a key market.
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Japan&#39;s Nikkei 225 Stock Average fell for the first day in four. Nintendo Co. and Sharp Co. declined after brokerages cut their ratings on the companies, citing concern that earnings growth may slow.
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Asian stocks fell as a fourth weekly gain in oil prices increased concern that record fuel costs will stifle consumer spending. Sony Corp.
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Japanese shares fell for a fourth  straight session on Friday after consumer electronics firm Sony  Corp. said its profit would fall, dragging down rival makers of  digital products like Pioneer Corp.
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Japanese shares fell for a fourth straight session on Friday after consumer electronics firm Sony Corp. said its profit would fall, dragging down rival makers of digital products like Pioneer Corp.
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Sony Corp. posted a 13 percent drop in quarterly profit on Thursday due to sliding prices of TVs, DVD recorders and video cameras and its failure to overtake Apple Computer's iPod in the portable audio market.
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Sony CEO Howard Stringer admitted in an interview that the price of the PlayStation 3 needs to come down, but provided no estimate as to how much of a price drop consumers can expect.
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Sony faulted a strategic decision to set the price of the PlayStation 3 below the cost of production as a way to bolster market share.