Analysts show Sony respect

December 3rd, 2007, 20:35 Posted By: Shrygue

via Games Industry

After a tricky last few months for Sony analysts seem to largely agree that the company is set for happier times in the near future.

Sales of general consumer electronics, including Bravia TVs and Cybershot cameras, are up, and confidence is high following some company restructuring and a significant recent investment from Dubai.

Now sales of the PlayStation 3 are also looking much healthier, prompting analyst Hiroshi Kamide from KBC Securities to say that Sony is "making up lost ground," according to a report on CNN Money.

"Going forward another 12 months or so I'm sure we'll see better titles turning up as well. I wouldn't say Sony's back on form and everything is going to be OK now but it feels like the proper launch [for the PS3] this year."

And Macquarie Security's David Gibson added, "It's certainly a sign that the momentum of the PS3 business is improving.

"The PS3 and the games business is past the worst in terms of financial losses and the sales momentum is improving because of the price cut and the new model."

Last week Sony's share price rose 11 per cent on the back of increased confidence and the encouraging PlayStation 3 sales.

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