Leading US business magazine Forbes has described the new Playstation3 gaming console as being “Too little and too late”. They also claim that there is no hope of it making a difference in Sony’s poor performance in the gaming market.

Brian Caulfield, writing for Forbes, said that “not only has Sony gone from first to last in the market for videogame consoles, it has done so at the worst possible moment”.

He said that Sony’s latest move, slashing the PlayStation3’s price by $100 to $299 (In Australia it will be $499) has almost no hope of making a difference. That’s because Sony’s technology-packed console will remain more expensive than either the Xbox 360, which starts at less than $200 or the Nintendo Wii, which sells for $250.

And in another dig at the new console he said that “While Sony’s offering is packed with expensive technology, it’s the least mature where it matters most: motion-sensitive controllers and online gaming”.