Bloomberg.com: Sony Profits may fall 50% |
|
|
|
|
Written by Craig Gonzalez
|
|
Monday, 29 January 2007 |
|
"Jan. 29 (Bloomberg) -- Sony Corp., the world's largest maker of video-game players, may report third-quarter profit fell 50 percent after its flagship PlayStation 3 lost market share to Nintendo Co.'s Wii. 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."
READ ARTICLE FROM BLOOMBERG.COM
|
