Sony's Credit Rating Downgraded

Posted by Zonk on Wednesday November 24, 2004 @04:42AM from the that-psp-thing-was-a-bad-idea,-huh? dept.

Gamasutra has the news that electronics giant Sony has had their credit rating downgraded from A+ to A by credit ratings firm Standard and Poor's. The move is seen primarily as a result of the PSP's impending launch. From the article: "Although Sony's PlayStation Portable (PSP) was not mentioned by name, many consider the unexpectedly low Japanese launch price of the console, 19,800 yen (USD$186), to be one of the major causes for concern. With some suggesting that Sony will lose significant amounts of money on every PSP sold, the company will be looking at a loss of tens of millions of dollars in the first year of the format."

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No surprise here, move along. by Eil · 2004-11-24 05:46 · Score: 3, Interesting

Er, companies have always sold consoles at a loss, especially during launch. I just played a Gameboy DS yesterday and I have to say that Sony has a long road ahead of them if they want to top it.