Sony Raises Forecast but PS3 still Hurts Badly

Jan 30 2007, 1:00pm CST | by Luigi Lugmayr

Sony beat profit estimates in new released Q3 earning numbers. Net income only fell 5.3% (analysts have estimated higher declines) and Sony raised its annual net income forecast by 38%.

A weaker Yen helped profits on flat-screen TVs. Sony Cyber-shot cameras, Sony Ericsson phones and the Sony movie studios (James Bond) did well too.

The only big issue is the gaming division. The Sony PS3 is weighing heavily and keeps the division at a big loss. To really turn things around the Sony PS3 needs to really do well in 2007. Sony says to still plan to ship 6 million PS3 consoles by end of the fiscal year. They already shipped about 2 million.
I guess Sony has high hopes on Europeans buying tons of Sony PS3s when it launches in March.
Sony also of course needs to push again the PS3 sales in the United States. New game titles will be needed that really set the console apart and justify its price. What upcoming Sony PS3 game are you really excited about? If you have a tip, please email me.

Details on the Sony Q3 earning numbers can be found on Bloomberg and MSNBC. More Sony PS3 News.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.