Bloomberg reports that Sony’s shares fell to their lowest point all week following Credit Suisse’s investment rating cut, dropping 5.9 percent to close at 1,825 yen ($20.32).
Sony …. sighs … the PS3 has not done as well as they expected. Little Big Planet did not sell much more units and Microsoft stole the exclusivity of Final Fantasy. Can it get any worse? Sure … Metal Gear Solid 4 on the Xbox360, that would be a huge hit. Look at the following images:
All the figures show that the PS3 is significantly is under performing. Sony has invested huge amounts of money in the Cell technology which has been painful for developers to say the least. Only if they had made it a shared memory architecture. Now Sony is laying off people left and right and major restructure is expected.
Plagued by what analysts say are problems with its operating structure and high costs, Sony recently said it would cut 8,000 employees — about 4 percent of its workforce — with the aim of saving $1.1 billion dollars. The company suggested at the time that it might “carefully review and make structural changes” surrounding the PlayStation business.
I think Sony has learned a tough lesson in this console generation and I’m still a firm believe in their ability to turn it around (maybe not so much for the PS3), but definitely for the PS4. They will have to move to a platform architecture that is really easy to develop for and innovate on a couple of things to add something new. The reason I wrote all this is to say, that Sony stock will probably go down further and then it will be a good time to buy.