Nintendo's Wii has been the big success of the latest generation of video game consoles. Microsoft's (NASDAQ: MSFT) Xbox 360 is making up some ground with the success of Halo 3. As Doug McIntyre recently wrote, its first week sales of over $300 million could "pull the Xbox 360 out of the mud."
But where does all of this leave Sony Corp. (NYSE: SNE)? Probably nowhere good. With Wii already having established itself as the big winner and Microsoft making a late push toward success, Sony would appear to be the odd man out.
But BusinessWeek interviewed Kazuo Hirai, the marketing man in charge of the PlayStation 3, about how the company is looking to right the ship. He was predictably optimistic, saying that the company would be releasing a lot more games over the next few months, and really emphasizing the PS3 as a gaming system, whereas before, it was marketed as a sort of all in one entertainment system -- obviously that strategy didn't work.
So far the PlayStation 3 has created staggering losses for Sony, and a price-cut will probably be necessary if the machine has any chance. But whatever Sony does, it may be too late.
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