
Sony creates huge cash pool after selling 725,000 shares from its insurance unit
Sony will sell around $2.9 billion worth of shares from its insurance unit, freeing up a huge amount of capital that commentators have asserted could be injected into its game business, possibly precipitating a PS3 price cut.
“Sony could use the funds for various options to strengthen its electronics and game businesses,” said Mitsuhiro Osawa, a Tokyo-based analyst at Mizuho Investors Securities. "A cut in the price of the PlayStation 3 is one option."
According to Bloomberg, the selling off of the 725,000 shares represents Japan’s biggest initial public offering this year.
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Comments
Price cut for PS3?
A price cut!! I can see current PS3 owners being really p***** off by this news if it goes ahead. Me personally I dont think the PS3 needs a cut. It really is an excellent machine and you get alot for the money. If Sony do cut the price, surely they would be undercutting their Blu-Ray machines? What they do need to do is bring out more games for the machine and also stop being so aragont about their products!
Re: Price cut for PS3?
There's a difference between cheap and value for money, most people I'm afraid prefer cheap. Additionally VFM is all about perception, you may find that your ps3 has a lot of technology and as a blu-ray player it's relativly good value for money however the public at large see a 400 odd quid games machine and they really don't fancy stumping up that kind of cash right now.
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