Despite Price Cut and New Model, Sony’s Stocks Still on Decline
So even after the news about a slim model coming in September and a price cut starting on Wednesday, Sony’s stocks are still sliding at a steady rate. Here are some of the details, from GamesIndustry.biz:
The stock closed down by 1.4 per cent today on the Tokyo Stock Exchange to sit at JPY 2445 (USD 26.02), declining yet further from its peak of over JPY 2770 (USD 29.48) on August 10 – a drop of around 12 per cent in total.
Investors took exception to the price cut announcement – despite the likelihood that the move will spur console sales for the company globally – with a 3.9 per cent fall in the price coming on Wednesday, the day after the press conference reveal in Cologne.
Is this bad news, though? Not exactly. Remember, the price cut, until the Slim model is released, is aimed toward any remaining stock to clear up shelves for the new model, thus they were already purchased from Sony by the retailers. Sony’s stock rates should climb within the next two weeks, especially with the demand of the Slim model being really high, and should be through, at least, the remainder of the year. Don’t forget all that overwhelming support Sony has received by many third party developers for the price cut, such as Ubisoft and EA. It takes a little time for things to turn around, but I’m sure once the Slim is in stores, the stock should climb.