August 24th, 2006
Why am I obsessed with Sony’s PS3 blunder?
Why do we watch professional bull riding? Impending calamity is interesting.
We noted earlier that Sony hadn’t even begun prodution on the PS3. Other people are noticing, too. According to this report:
Japanese brokerage Mitsubishi UJF Securities has lowered its rating on Sony, predicting a 50 per cent shortfall in the company’s launch estimates for the PS3 which sent the share price down 3 per cent.
According to a report on Reuters, the analyst believes that component shortages – such as those which plagued Microsoft’s Xbox 360 launch last year – will mean that Sony is unable to manufacture anything like the number of consoles planned in the short term.
“In the medium term this would mean that it would take longer for Sony to recover its huge investment in PS3 and thus we are downgrading the stock,” stated Masahiko Ishino, Mitsubishi UFJ Securities analyst.
Shares in the company fell by 3.2 per cent on the announcement, investors wary of Sony’s ability to deliver on its shipment forecast for the PlayStation 3.
The news comes just days after the platform holder clarified its November launch plans, forecasting 2 million units for the launch, with a further 2 million by the end of the calendar year.
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