It's the time of year when all the big players in the gaming industry are releasing details on their quarterly earnings and it doesn't make good reading for Sony. Sony have announced a 94% drop in profits for the last quarter blaiming the delay with the PS3 and battery recalls (approx 10 million batteries were recalled in the last few months).

Nintendo on the other hand were laughing all the way to bank as they revealed that profits had trebled in the last quarter, mainly down to huge sales of the Nintendo DS.

As quarter 4 begins both Sony and Nintendo have their new consoles coming out and while Nintendo will be hoping to improve of this quarter's proft, Sony will be hoping to claw back some of the massive losses.

Source : Reuters