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Sony, Rage and Eidos, all bad news

Games industry not the best place to be

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Eidos issued a profit warning today, ahead of its results, due on February 28. The company said it would revise its sales and profits forecast downward "significantly" after poor sales in the US and delays to the release of three games.

Meanwhile, Sony has halved its own forecasts, blaming production delays and higher than expected development costs of the PS2 console. The company's results for the third fiscal quarter fell to $620 million, compared to $800 million in the same period the year before.

The trouble in the games sector does not stop there. Yesterday Rage, the games developer, admitted that its sales were also suffering after the delays to the launch of the PS2. It said it had stopped development on five new games because they were unlikely to sell very well.

Rage's chief executive, Paul Finnegan commented: "We are probably at the bottom of the greatest cycle this industry has ever seen." ®

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