Thursday October 5, 2006 11:54 pm
Analysts: Sony To Lose $560 Million On Battery Recall, PS3
Analysts are reporting that Sony will lose an estimated $560 million due to the massive battery recalls and the price cut for the Playstation 3. The analysts estimate that the battery recalls will run almost $340 million at the low end of estimates. Certainly, lawsuits and further recalls could lead this figure to run higher. Sony’s announced price cut in Japan would also contribute an estimated $220 million to the company’s losses this year, on top of the losses that Sony already sustains on each console sold. Sony’s forecasts for the year estimated that they would earn $1.1 billion, so these losses in effect will cut Sony’s profits in half.
Read More | ITNews
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