When the Sony (SNE) PS3 was launched to replace the aging Playstation 2, the Japanese company had great hopes that it could maintain its No.1 spot against Nintendo and the Microsoft (MSFT) Xbox franchise. Things did not work out that way. Over the course of last year, sales of the PS3 ran well behind its two competitors.
Sony needed the PS3 to cut the huge loses in the game business, and now it looks like the console may deliver. According to Bloomberg, "The PlayStation 3 outsold the Xbox 360 in the U.S. in the first five months of 2008 after trailing Microsoft’s console in 2007."
The reasons for the improvement seem to be that the product runs Blu-ray high-def movies. Blu-ray has won out at the HD format that all of the Hollywood studios use. Sony also has gotten more exclusive video games for its console.
Now, Microsoft can explain to investors about why its gaming business is not doing well.
Douglas A. McIntyre
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
