Can Video Games Bring Down a Multinational Corporation?
Sony has a book value of $27 billion. It has nearly $9 billion in cash. Sony’s not going anywhere. Or is it? Sony is looking at a potential for demise it has never faced before. With the failure of its TV and music electronics businesses and its up-and-down movie business, it has relied more and more on the video game business to keep profits up. But now even its video game business can’t save the company. In fact, it’s the video game business that could put the whole company right down the toilet. Here’s a story of a company in trouble. Sure, you think you could help it by buying a new PS3 at the end of the year. But purchasing a PS3 this year could be the very thing that pushes Sony over the edge. The Seeds Are Sown Sony’s troubles didn’t just begin this year, but we all started to realize the wheels were falling off the train when Sony started delaying the release of the new PlayStation 3. The first excuse Sony made was that licensing issues were causing the delay from Spring 2006 t
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