Sony’s profits might fall 50% due to losses on Playstation 3

Sony’s profits might fall 50% due to losses on Playstation 3

Market analysts have said that the Japanese tech giant Sony might report massive drops in their profits in the coming months as they take the damage from losses from sales of the Sony Playstation 3 gaming console.

The company is struggling to supply enough consoles in the market while Nintendo is selling record number of consoles.

Market analysts said in a report that the losses from games probably drove net income down to 84.1 billion yen in the three months ending in December.

Sony is due to reveal the official figures tomorrow.

Analyst Mitsushige Akino said in a statement on their prediction: “A drop in third-quarter results is largely expected on the games division. There’s no surprise unless the company further reduces its profit forecasts.”