PS3 Problems Frag Sony Stock Price

New concerns about Sony's much-anticipated PlayStation3 video game console sent the shares of the electronics firm tumbling in Tokyo overnight.

According to one report, PlayStation 3 units on display at the Tokyo Game Show about 10 days ago operated erratically and had to be reset repeatedly. The company denied that there's any technical problem with the equipment.

Sony has already had to delay the product's launch twice and is facing increased competition from rivals Microsoft and Nintendo.

PlayStation 3 is now scheduled to hit stores in Japan on Nov. 11 and in the U.S. on Nov. 17th. In Europe, they won't go on sale until March, four months later than planned. It will cost several hundred dollars more than the new product from Nintendo.

More than 4 million Sony-made batteries for laptop computers have also been recalled recently over fears that they can overheat and cause fires.