Nintendo putting the squeeze on Sony
Sony may report third-quarter profit fell 50 percent after its flagship PlayStation 3 lost market share to Nintendo’s Wii.The results may highlight Chief Executive Officer Howard Stringer’s failure to fend off Nintendo, whose $250 Wii console outsells the PlayStation 3 by two-to-one.
Shares of Sony have risen 9.6 percent in the past six months, trailing the 61 percent gain by Nintendo and Xbox 360-maker Microsoft Corp.’s 26 percent increase. Today, Sony’s stock fell 1.2 percent to close at 5,730 yen in Tokyo.
Nintendo, last week, reported profit in its latest quarter jumped 40 percent fueled by demand for Wii consoles and portable DS game players.
In the U.S., Nintendo sold 1.1 million consoles in November and December, almost double the PlayStation 3 units shipped during the period, according to researcher NPD Group. In Japan, Nintendo sold 989,118 Wii units last year, more than double PlayStation 3 sales, according to researcher Enterbrain Inc.
Thanks for the heads up William.