Sony Sticks To PS3 Shipment Targets

Officials from Sony have stated that the company has no plans to change its targets for shipments of the PlayStation 3 console this year or its projected operating profit margin. As quoted by Reuters, Sony president Ryoji Chubachi commented at a press conference in Tokyo: "It is true that it took us some time to bring the PS3 to mass production as blue laser availability worked as a bottleneck. But 2 million and 6 million are within our reach." Sony's plans call for 2 million units to ship by the end of the year and 6 million by the end of the company’s financial year in March. Some current estimates have put the PlayStation 3 worldwide total at around 500,000, with around 197,000 units shipped during the console’s debut month in the U.S., despite initial projections of 400,000 units. However, Sony America PR boss David Karraker recently stated that production problems with the console “have been resolved”, with the company sticking to its estimates of 1 million consoles in North America before the end of the calendar year. Chubachi also stated that the company is keeping to its forecast of a 5 percent operating profit margin, over the entire company, for the financial year beginning next April, up from an expected 0.6 at the end of the current financial year. "We won't change it. We'll do our outmost effort to achieve that. For now, we have no plan to take down the flag," said Chubachi. Analysts have predicted a 2008 operating margin of 3.5 percent. There was also no change to the estimated ¥51.2 billion ($435.5m) cost of the laptop battery recall which, far more than the launch of the PlayStation 3, has been the major thorn in Sony’s side this year. As a result of Chubachi’s comments, Sony shares closed up 1.8 percent, outperforming the Tokyo stock market average for that sector.