PS3 Release Doesn’t Help Sony’s Stock
It appears that neither the recent release of the PS3 or the new James Bond film, have helped Sony stock to rise up in value again. In the last few months Sony’s stocks have been steadily decreasing. Many might have expected the PS3 launch to push Sony’s stock prices right back up again, yet it appears that this has not been the case. Shares of Sony went down by 1 percent in value on the New York stock exchange this Monday. This recent bad news on Sony’s part has led to some concerns about the PS3 launch. Only 400,000 PS3 consoles were sold in North America due to supply shortages, which brings up the question of whether Sony’s quick sell out was due to demand, or simply short supply?
Apart from the struggles of the last few months it has actually been a pretty strong year for Sir Howard Stringer, CEO of Sony, who took over in June 2005.
Read (CNN Money)
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