Sony's PlayStation Problems
Move over Toyota (TM) , there's a glitch at another giant Japanese manufacturer.
(TM) Sony (SNE) (Stock Quote: SNE) admitted on Monday that a bug is knocking some PlayStation 3 users off the game console's online network. The company says the problem was likely caused by a Y2K-like problem in the system's clock. The problem was discovered Sunday night when PS3 users playing older models, not the newest slim version, began seeing the system's date reset to Jan. 1, 2000.
"We hope to resolve this problem within the next 24 hours," said Sony on its PlayStation blog. "In the meantime, if you have a model other than the new slim PS3, we advise that you do not use your PS3 system, as doing so may result in errors in some functionality, such as recording obtained trophies, and not being able to restore certain data."
(TM) (SNE) In January 2000, Sony's stock price was close to $120 a share and the Walkman/Discman still ruled the world. Now shares of the humbled Japanese giant sell for around $35 a share and Apple (AAPL) dominates the consumer electronics market with its iPods, iPhones and other gadgets.
Our advice to Sony is to pray for divine intervention. PlayStation's blockbuster game "God of War III" comes out in just a few weeks, and Sony needs all the help it can get.