Sony is taking a hard hit in the current poor economy. The firm announced a massive loss last quarter and sales for many of its divisions are at historic lows. Sony is also under lots of pressure for it gaming division to perform.
In June, Activision CEO Robert Kotick put pressure on Sony CEO Howard Stringer to cut the price of the PS3 console. Kotick said at the time that Activision might have to reconsider developing games for the PS3 is price cuts weren't made. Sony issued a retaliatory press statement reading, "We enjoy healthy business relationships with and greatly value our publishing partners and are working closely with them to deliver the best entertainment experience."
Both Stringer and Kotick are at the Allen & Co conference in Idaho this week. Reuters reports that when Stringer was asked directly about Kotick's statements Stringer said, "He [Kotick] likes to make a lot of noise. He's putting pressure on me and I'm putting pressure on him. That's the nature of business."
Stinger was also asked about the logic of not cutting prices on the PS3 console. Stringer replied, "I [would] lose money on every PlayStation I make [if prices were cut made] -- how's that for logic."
Stringer also said that Sony was not looking to shed any of its assets despite recent losses and a continued poor economy. Stringer says that Sony is trying to closely integrate hardware and software and selling off assets in either camp didn’t make sense.
Stinger said, "We're learning to fuse content and hardware. This wouldn't be a time to get rid of either."
Stinger said at the conference that he sees a bottom in China to the economic crisis and that most of Asia is looking good. However, he points out that it is too early to call a bottom to the recession overall. He said, "I see green shoots but it's a very light shade of green."