The Sony president and CEO concedes that a European delay will hurt the PS3's prospects.
In a brief statement to Reuters, Sony president and CEO Ken Kutaragi made a rare admission that the PS3 delay in Europe will hurt the company's position in the market. "If you asked me if Sony's strength in hardware was in decline, right now I guess I would have to say that might be true," he said.
Sony is currently the number one console maker in the world with a PS2 that continues to outsell the Xbox 360 in recent months. Despite the PS3 shipment cuts, most analysts expect Sony to remain number one with a smaller percentage of the market than they are used to.