PS3 to miss sales targets by 25 per cent - analyst

Sony will miss its PlayStation 3 sales targets for the fiscal year by 25 per cent due to poor sales of the next-gen console over the Christmas period.

That's the latest assessment from industry analyst Nomura Securities, which lowered its estimates for the year ending March 2007 from 6 million units to 4.5 million.

Moving into the fiscal year ending March 2008, Nomura also predicts a reduction in sales from 16 million to 10 million, and then the following year, ending March 2009, from 18 million to 11 million.

Sony has shipped one million PlayStation 3 units to North America, while last weeks' NPD data revealed the company has so far sold 687,000 of those units in the region.