Sony Europe Confirms 2006 PS3 Launch; Sony Stock Price Drops

David Reeves, president and CEO of Sony Computer Entertainment Europe has issued a short statement confirming the simultaneous worldwide release of the PlayStation 3 in early November as including Europe and Australia territories, previously presumed to be not seeing the console until 2007. "We are absolutely delighted that we will be able to bring PS3 to gamers in Europe and Australia before Christmas. This is an exciting first for Europe, and is a huge endorsement and vote of confidence in the strength of the European market and its importance globally,” said Reeves. Following on from today's confirmation of the November launch date, which will actually see the PlayStation 3 coming out in Europe earlier than expected, the announcement of for what is in Japan a delay has had an adverse effect on Sony’s share price. Stock in Sony Corp. fell by 1.6 percent to end morning trading at ¥5,480 ($46). In the long term, though, the newly confirmed release date is likely to upset financials for games publishers more than Sony itself, as consumers are expected to continue to rein in spending on current generation hardware and software until after the launch of the PlayStation 3 and Nintendo Revolution this autumn.