Institution

Sony Corporation is a multi-billion dollar industry which has departmants in a total of 6 different countries worldwide. Its products can be seen in every country worldwide, however such a large company such as this, has recently suffered serious financial problems due to their latest product the Sony PS3. Why? I hear you say, well this is why.

Sony Corp LTD was due to release their Sony PS3 (Playstation) before christmas of last year (2006), beating their competition by 2 weeks, Mircrosoft and Nintendo. Both of these companies were set to release the X-Box 360 (Mircrosoft) and the Wii (Nintendo) at the relative same time as Sony were to release the Playstation. Alot of media coverage had been given to the PS3 and many gamers worldwide eagerly awaited its arrival as it has far surpassed both Microsoft and Nintendo twice before with their N64. However, due to complications with the design of the PS3, the deadline was not met by Sony and Microsoft and Nintendo both released their consoles to the open market. This had devastating consequences with Sony's financial sector as they had spent more money creating the PS3 than was being made from it when it was finally released a total of 2 months later.