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Sony - Kaboom - Financial Meltdown etc
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Originally posted by Dirty Sanchez View Post
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Originally posted by CMcK View PostIt a disgrace that a company making the kind of money Microsoft does is considering such huge job cuts.
The credit crunch is just the excuse some companies needed to make cuts and increase shareholder value.
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Sony as a whole has been struggling for a couple of years now. It's no secret that Sony was more interested in using the PS3 as a vehicle to get HD and Blu-Ray into people's homes to boost their flagging consumer electronics divisions.
It's bad luck for them that the current financial crisis occurred when it did because their PS3 business model relies on absorbing huge losses in the early days in anticipation of a long-term profit, and not just from games sales. With things being how they are now it's going to not only be more difficult to absorb those losses but also to be optimistic about ever getting back into the black, especially since the machine has struggled so much.
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