Stringer: PlayStation 3 is a key driver of Sony's future growth
Thursday 21st June 2007, 11:11:00 PM, written by Farid
Associated Press reports what Howard Stringer, chairman and Chief Executive Officer of Sony, said to his shareholders at the annual meeting. During his speech, Stringer made clear that his ambition for the company has now shifted from “recovery to profitable growth."
The PlayStation 3, which was plagued with productions issues at launch and which still suffers from its expensive price tag and lack of compelling game library, was boldly described by Stringer as "a key driver" to the group future growth.
Even though Sony Computer Entertainment Inc. is expected to publish results that are well in the red, Sony CEO remains confident: “We always lose money in the hardware initially, and we recover that money gradually," and adds that "all the production problems have been solved†and that the division is making a comeback. He then promised that the company will continue to improve its online offer as well as its game library.
Stringer recently admitted that the PS3 needed a price cut in order to attract more customers, he also commended Nintendo's business plan and their low-cost approach.
On his end, SCEI president, Kaz Hirai, said to the Japanese newspaper Nikkei that he expected the release of 200 boxed PS3 games at retail and 180 downloadable titles, via the PlayStation Network, by the end of the fiscal year (March 2008). Many of these 180 downloadable titles should be PS1 games.
The PlayStation 3, which was plagued with productions issues at launch and which still suffers from its expensive price tag and lack of compelling game library, was boldly described by Stringer as "a key driver" to the group future growth.
Even though Sony Computer Entertainment Inc. is expected to publish results that are well in the red, Sony CEO remains confident: “We always lose money in the hardware initially, and we recover that money gradually," and adds that "all the production problems have been solved†and that the division is making a comeback. He then promised that the company will continue to improve its online offer as well as its game library.
Stringer recently admitted that the PS3 needed a price cut in order to attract more customers, he also commended Nintendo's business plan and their low-cost approach.
On his end, SCEI president, Kaz Hirai, said to the Japanese newspaper Nikkei that he expected the release of 200 boxed PS3 games at retail and 180 downloadable titles, via the PlayStation Network, by the end of the fiscal year (March 2008). Many of these 180 downloadable titles should be PS1 games.
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