PlayStation 3 delay raises fears for Sony

Discussion in 'Gaming News Discussion' started by Iria, Sep 7, 2006.

  1. Iria

    Iria New Member

    Apr 5, 2004
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    Source: IHT
    TOKYO - Sony shares fell as much as 2.6 percent on Thursday, hit by another delay in the introduction of the company's PlayStation 3 video game console, but they outperformed sector peers and the broader market by the end of the day as investors weighed the likely impact of the delay.

    Sony, which competes with Microsoft and Nintendo in the nearly $30 billion video game market, said late Wednesday that it would move the PS3 introduction in Europe to March from November, missing the critical Christmas shopping season in a major market.

    After hitting a low of ¥4,920 earlier in the day, Sony shares closed ¥80, or 1.58 percent, lower at ¥4,970, or $42.78, while Tokyo's electrical machinery index lost 1.96 percent and the Nikkei 225 average fell 1.67 percent.

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