Sony has more than the videogame industry in mind with Playstation 3

Sony has more than the videogame industry in mind with Playstation 3

Sony Corp. is due to launch its Sony Playstation 3 gaming console within the next six-month or so. And this launch is very critical for the company, as it would determine their role in the future of not only the video gaming industry but also the future storage format for digital content.

Sony made their job a lot more complicated by announcing their plans to ship the Sony Playstation 3 gaming console with a Blu-Ray drive. This is a next generation storage drive, which is taking on Toshiba’s HD DVD format drives in the market.

While Toshiba has already launched HD DVD players and media in the market, Sony is due to come out with standalone players sometime next month. However, the real pressure on the company would be when they launch their gaming console later this year.

Pricing would be a critical issue as if the Sony’s PS 3 is cheap enough; it can help the company challenge not only the Microsoft’s Xbox 360 gaming console but also the HD DVD format drives, which are selling in the market starting from USD 500. A Sony PS3 at a similar price would be a lot more logical buy than a standalone HD DVD player…

Sony is desperate in need for a hit. They are struggling to compete against Apple and their iPod digital music player. Over the past four years, Sony’s revenues were virtually flat as its operating profit rose 3 percent.

The company currently controls about two-thirds of the current-generation global game console market. However, a lot would depend upon the success of their upcoming console, which might change their position in the world’s gaming and entertainment industry market.