Ps3 Development Hits Sony's Profits

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We're not usually ones to really follow all that financial malarkey, regarding money as mere tradeable beer and kebab tokens, but some interesting stuff has emerged on the financial markets this morning, confirming that development costs of the PS3 are cutting into Sony's profits.
In the latest round of financials, Sony told the Tokyo Stock Exchange its second quarter profits had been hit by 46 percent with net income falling to 28.5 billion yen, compared to 53.2 billion yen for the same period last year.

Sony cited development costs of the PS3 and a drop in the TV market as the main reasons for the fall and it faces a war on all fronts as companies like Apple and Samsung cut into its core electronic markets with their I-Pod, hi-spec phone and TV products respectively.
Sony's new chief exec Howard Stringer recently outlined a re-development plan for the company, which includes cutting 10000 jobs over three years, as well as re-investing in core chips and screens businesses. We still await news on how this will affect Sony UK and Europe.
While this profits drop isn't a killer blow for the company, it'll certainly increase pressure on Sony to make the PS3 a success. Listen closely and you can probably hear the distant whooping of Microsoft execs.