Analysts: PS3 won’t hit 11 million sales by March despite better sales

Despite the better sales that the PlayStation 3 has been showing, analysts have given word that it will still be falling short of the 11 million target set by Sony. However, it might be good to know that Sony is slowly recuperating their PlayStation 3 operating losses.

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Analysts have given word that PlayStation 3 sales will be falling short of the 11 million target set by Sony. This despite of the better sales the console has been showing ever since multiple prices cuts were made.

According to Daiwa Securities, Sony is expected to sell around 8 million PS3 units by March 31, missing its target by 27 percent.

Tokyo-based Mizuho Investors analyst Mitsuhiro Osawa shared the same sentiment, saying, “It’s an industry consensus that PS3 sales will fall short of the target.”

The President and CEO of Sony Computer Entertainment, Kazuo Hirai, commented that they still haven’t made any conclusion on whether they have to give up on hitting the 11 million shipment target. He added that it would depend on how aggressively dealers purchase Sony’s PS3 inventory.

Despite the fact that Sony Computer Entertainment might not hit their mark, it is slowly recuperating its PS3 operating losses. The company was able to generate 12 percent of revenue from its game unit during the three months ending on September 30.

In addition, the Nikko Citigroup has given word that the higher sales and lower production costs should reduce the company’s operating losses related to the PS3 by 90 percent to US$ 158 million in the fiscal second half ending on March 31.

Via Bloomberg