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Sony Blame Games Division News
Chris Leyton
24/10/2003
Sony Corp blames games division for lower then expected profits during the second quarter...
Sony Corporation today surprised everybody in the industry by announcing a 25% drop in its second quarter profit. The Japapnese giant cut its full-year operating profit forecast to 100bn yen (~£542m) after reporting net earnings of 32.9bn yen for the third quarter of this year.
Sony Corp blamed the situation on dwindling sales of the Playstation2, claiming that sales of SCE products fell by 35.6% in the second quarter, reducing the division's profits by 91%. Sony Corp cited research and development of new hardware as the main culprit, but also claimed sluggish sales of the PS2 in America. Europe appears to be the only territory to still see continued sales, prompting many to believe a similar price cut will follow through in other territories.
The news sent Sony's stock crashing down by 5.04% to 3,980 yen, whilst other publishers and developers have also witnessed a knock-on effect.
Anonymous
Date Added:Tue 29th Jul 2008 15:20
Agzen
Date Added:Tue 6th Nov 2007 16:19
JAZZ-1991
Date Added:Tue 6th Nov 2007 16:03
Anonymous
Date Added:Mon 5th Mar 2007 21:49