Sony cuts annual Profit Forecast by 57%

Sony cut its annual profit forecast by a drastic 57%. Now you might think that Sony should just finally cut the price for the PS3 to make some sales, but Sony does not blame the video game sales for the cut.
Sony sees the reason in the firmer yen and the economic slowdown hitting LCD TV and digital camera sales.
We just reported the other day how Samsung dominates the top 10 bestselling TVs on Amazon.com. Sony has great TVs, but so does Samsung and they seem to strike a chord with consumers.
Sony seems to still be confident that the PS3 will sell well this Holiday amidst their overall problems. Sony just recently confirmed that there will be no PS3 price-cuts for the Holidays. Apple just showed that consumer electronics companies can do well amidst these economic conditions.
Via this Reuters story.

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