Bloody ouch! The mainstream media is reporting that Sony (you know, the parent company of PlayStation) has cut its profit forecast by a staggering 57%. The company is blaming currency issues (a stong yen) and fewer people buying TVs and digital cameras. The PlayStation family gets no blame.
According to Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management -
quoted in Forbes - "I'm a bit concerned about their new assumptions. There's a chance they may have to cut their outlook again".
The company is now talking about laying off staff and closing plants.
That said, the company has also announced that it is upping the forecast of PSP sales from 15million to 16million this year.