Bloomberg: Sony profits could fall 50 percent

[wraggster]

via gamespot

Sony's third quarter financial earnings results, which are scheduled to be released tomorrow, could see its net income down to 84.1 billion yen (approx $680 million), reports Bloomberg.

The financial news service surveyed five analysts, and its median estimates weigh in with the PlayStation 3 maker falling dramatically short of its previous third quarter earnings, which saw record profits of 168.9 billion yen ($1.39 billion) last year.

Sony CEO Howard Stringer has "failed to fend off Nintendo," the report continues, with the Wii outselling the PS3 two-to-one worldwide.

The company is likely to lose a record 191.9 billion yen ($1.57 billion) from games this fiscal year, compared with a profit of 8.7 billion yen ($71 million) last year, according to the survey.

In October, Sony cut its fiscal year profit forecast to 80 billion yen, a five-year low. Shares in Sony recently jumped six percent, the biggest single increase in more than a year, although these figures trail beyond the 61 percent share-price increase for Nintendo, and the 26 percent increase for Xbox 360 maker Microsoft.

[Boardman2411]

Serves Sony right. they should listen to their customers more.

[NovaKane]

Damn, Sony gotta step their game up if they want to survive the console wars (if you want to call it that) this year. Things are finally changing and their monopoly days are over.

[JKKDARK]

I wish Sony leaves the console market

[Shadowblind]

Sony will be off the market, probably sooner then you think. And I agree, this could all have been avoided if Sony simply listened to what its customers wanted rather then what Sony WANTED its customers to want.

[Mr.Denny]

LOL $ony

See what i did there?

I put a dollar symbol instead of an "S" because Sony is a huge money eating machine and we must fight them!. The fourth Reich, i tell you.

Seriously, enough of the usual "Sony sucks" rants.

[NovaKane]

I'm guessing there won't be a PS4...

[John Vattic]

I'm buying a ps3 for sure. The wii is just like the ds as far as being gimmicky. When it comes down to it, I prefer hardware power to cheap gimmicks. Although in America, most of my fellow citizens are silly enough to buy into gimmicks.

Also with every emo kid in America stumbling around to get a wii, the ps3 will be there to appeal to normal people. At least if this emo fad wears off like it should, Sony should do better in this next year.

And i may dislike sony's sales strategy, but i still love their products. I've grown out of the "i hate sony" 12-year-old mindset.

At least Sony isn't insulting it's customers with cheap gimmicks like nintendo is. That alone will insure my support for their new console.

[muffinman]

lol ill be buying a ps3 and i just sold my wii (not because i hate it but because i got all my money back and i can just buy a new one when decent games come out e.g metroid and smash bro's)

anyways sony wont die, the ps3 will become popular when it becomes a bit cheaper and more people can afford it.

[Yobumtin]

I'm buying a ps3 for sure. The wii is just like the ds as far as being gimmicky. When it comes down to it, I prefer hardware power to cheap gimmicks. Although in America, most of my fellow citizens are silly enough to buy into gimmicks.

Also with every emo kid in America stumbling around to get a wii, the ps3 will be there to appeal to normal people. At least if this emo fad wears off like it should, Sony should do better in this next year.

And i may dislike sony's sales strategy, but i still love their products. I've grown out of the "i hate sony" 12-year-old mindset.

At least Sony isn't insulting it's customers with cheap gimmicks like nintendo is. That alone will insure my support for their new console.

No actually the "emo" fad has nothing to do with gaming. "Emo" short for emotional is a psychological disorder. There are some people who act sad just to get attention but thats lame. A lot of people with different hair styles are just as normal as you. Whether they want to have black hair, or if they want to look gangster there's a lot of people who don't think of themselves any different. Sorry for the rant but I hate when people use labels to describe people and what they like.

Nintendo wanted to get everyone who isn't a gamer to be interested in gaming. And old gamers are interested in the wii. Thats why Nintendo's doing so good with this system. Sony's doing bad because they haven't listened to its customers and they just aren't as experienced on the market as Nintendo.