Sony’s 3rd Quarter Profits Fall 50%
By: Joshua Karp | Jan 29th, 2007 at 01:32PM
It’s no secret that Sony has been losing money on every Playstation 3 that they put on the shelves. How much this strategy was going to effect their profit margin has been unknown, until now. Bloomberg is projecting massive losses for Sony’s 3Q earnings statement, $691 million in profit for the 2006 holiday season. This is down from $1.3 billion in 2005. Nintendo on the other hand is expected to post record gains as they continue to gain market share, undercutting Sony’s retail pricing and moving significantly more Wii’s in the process.
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