Eidos holding off on release of most PS3 titles until 2008

Eidos has confirmed that it won't be releasing most of its major PS3 titles until next year, stating that the console's installed base will not be high enough before then.

As part of a statement released alongside the company's interim results for the six months ended December 31 2006, CEO Jane Cavanagh said, "We believe that PlayStation 3 will be a successful platform, and are developing technology and products for this console.

"However, as we do not believe that the installed base will be high enough until the second half of our 2008 financial year, most of our major product releases on the PlayStation 3 platform are not scheduled before that date."

The six month results reveal a rise in revenues for Eidos from GBP 50.1 million to during the same period last year to GBP 74.5 million. Losses stand at GBP 17.9 million - down by GBP 2 million year-on-year.

Cavanagh said that the board of directors also believes the Xbox 360 and Wii will be successful, with Eidos's first titles for Nintendo's machine due out this spring.

"The board believes that the introduction of new consoles will drive strong demand and pricing over the next five years," Cavanagh continued.

"In addition, the increasing opportunities for digital sales to consumers, through PC downloads as well as the Xbox 360 and PlayStation 3 platforms, provide the basis for improved margins."

The statement observed that Eidos enjoyed two UK number one hits in the second half of last year with Just Cause and Battlestations Midway, and highlighted the GBP 44 million deal with Warner Bros. that was signed in December.

It also confirmed that the first products from Eidos's new casual games division will be launched in the first six months of 2008, following the acquisition of developer Rockpool Games.