As is the case with many technology companies, Sony has not been experiencing much joy during recent months, with huge drops in profits reported throughout the year. And, when you are not making enough sales, there is sometimes only one solution which can help a company to recoup the lost profits: raising the prices.

Thus, it was announced recently that Sony is now planning to increase the prices of a number of its products, with its decision currently being influenced by the rapidly weakening pound against the euro and the Japanese yen.

A statement from the company was released, saying that “it is likely that the vast majority of products affected will see increases of significantly less than 33 per cent", which was a relief in some quarters, even though 33 per cent seems quite a considerable rise.

However, according to Play.tm, it seems that Sony is determined to keep at least one group of shoppers happy, since the company also announced that it has no plans to increase the price of the PS3 console. This is not just down to the good nature of the board though. Rather, it has far more to do with the battle currently being waged against the Xbox 360.

At the same time as this news was announced, rumours started circling that the PS3 was actually in line for a price cut in March 2009. D+Pad, the online magazine, was apparently informed of this from a company insider, but Sony has been quick to play down this rumour and has stated that it is not about to make the PS3 more competitive in 2009.

Customs officials are warning Christmas shoppers about fake handheld Nintendo games consoles, which at best could cause disappointment for your children on Christmas Day and at worst could cause them serious injury.

Several hundred fake machines have been seized from depots by HMRC officers, in a bid to stamp out hardware piracy and the inherent safety risk which goes hand in hand with the practice. DS and DS Lite machines normally costing around one hundred pounds are available online at hugely reduced prices having been imported from warehouses in Asia at around forty pounds each. Fake versions of the DSi, a model which is not yet available in the UK, are also available online, along with counterfeit Wiis, both at suspiciously low prices.

Customs officials warned that not only may the machines not work but they may also be dangerous, since the power supplies have not been electronically tested. Pamela Rogers of HMRC has also pointed out that fake electrical goods undermine genuine businesses who abide by the rules.

Nintendo’s fraud investigation company, ELSPA, is working with Trading Standards officers to outlaw the websites which sell the fake consoles. Apart from the suspiciously low prices, the other telltale sign of a counterfeit console is the packaging. A genuine Nintendo will come in a single sealed package whereas the counterfeit machines come badly packaged with the power unit in a separate box.

At the end of the day if a bargain seems too good to be true the sad truth is that it probably is!

As unemployment rates are predicted to fall to truly devastating levels over the next few months, it is not really a surprise to hear that yet another giant company is expecting to announce huge job losses in the near future. And that is exactly what EA has just done.

The company recently released a statement explaining that sales have been slower than expected and, as a result, it will have to slash a large number of workers to make up for this disappointment. A number of the company’s big titles have been slow to shift off the shelves, with such games as ‘Need For Speed: Undercover’ failing to attract sufficient interest from cash-strapped games fans.

EA stated that this and the “uncertain economic environment” were the main factors behind its decision, and is yet more evidence of another giant company striving to keep its head above water in these dark economic times.

The CEO of EA, John Riccitiello, said that the company is remaining "committed to investing in great game technology” despite these job cuts. However, the company’s portfolio will be reduced for the 2010 fiscal year, so you should not expect as many great games to be released in the near future.

It seems that all areas and industries are being affected with the economic climate being as bad as it is, and gamers are going to have to suffer the consequences as well. All we can hope for is that it doesn’t have too much of an impact on the quality of the games that are being released, even if the numbers of new releases may suffer.

As each week goes by, it seems that we are just waiting on tenterhooks for the next bank or high street giant to go into administration. The full effects of the credit crunch are finally coming into glaring view, and it seems that nothing is safe. After the rapid and tragic demise of Woolworths, it seems that the ripples of change are heading out in all directions, throwing up a few surprise victims along the way.

One such victim is Zavvi, which last week announced that it is having to suspend all online selling of computer games due to the collapse of EUK, who provided Woolworths with their entertainment products. But it’s not just games that are suffering, as the company has also had to suspend the online selling of music and DVDs, and the stores are also going to be experiencing shortages soon. Indeed, major new releases such as Residence 2 for the Playstation 3 are now missing from high street stores as they are experiencing problems with stock.

The website explains that "we have not taken this decision lightly, but we believe that this is the right course of action under the circumstances". However, it is a complete disaster for the company as they now search desperately for a new supplier. And until they find one, people who have been affected and have even had their purchases cancelled should be contacted by the company, with refunds being dished out where necessary.

It is unfortunate that this has happened in the busy build-up to Christmas, as this is the time when the company would be expected to do its biggest amount of business, and of course consumers are also going to be left disappointed. But the credit crunch is revealing itself to be unsurprisingly indifferent to such concerns.

Other stores who were served by EUK include WHSmith and Morrison, meaning perhaps we can be expecting a few more similar announcements in the near future.

The Nintendo Wii has taken off as the most enjoyable, entertaining games console of our times, surging in popularity ahead of the other big consoles due to its unique characteristics and appeal to a wide audience.

However, Ebay has just released figures suggesting that in the run up to Christmas the Wii is not only the most popular console, but the most popular product on its website full stop.

The Wii managed to ramp up the most searches of any product on the online auction site, and with Christmas just around the corner, Nintendo will be looking forward to a Christmas bonanza this year.

Another interesting feature was that the prices on Ebay were actually higher than the RRP of a Wii. Ebay is usually the place to go for cheap deals and below-market prices on all ranges of goods, but in this case it is being put to another use. As retailers run out of stock at the busiest time of the year, people are prepared to pay over the odds to get hold of a Wii console in time to unwrap it on Christmas day, paying an average of £236 per item.

But as well as all this, there is even more good news for Nintendo as the second most-searched-for product on Ebay was the Wii Fit, the physical platform that allows users to get fit and exercise on their console.

With so many Wii products being searched for, and undoubtedly being sold, this is yet more proof of the Wii’s incredible success. But with prices as they are, I think I might just wait until after Christmas to get mine.

The Xbox 360 is expected to outsell its predecessor by the end of November. The original Xbox console was discontinued in 2006 but racked up 24 million global sales during its short career.

Microsoft’s second foray into the gaming world has enjoyed similar success, and is hotly tipped to be the most popular seventh generation console during this year's Christmas period.

Chris Lewis, a representative for the company’s EMEA division (Europe, the Middle East, and Africa), attributes growing sales to a September price cut, a greater focus on advertising, and a wide variety of family-friendly content.

In an interview with Edge magazine, Mr. Lewis said: “since September, we’ve seen up to a five-fold increase in sales velocity. In some geographies, the U.K. specifically, we were almost three times Sony’s volume last week, for instance.”

Both the Xbox 360 and its fatter, older brother have had to compete against Sony. The Playstation 2 sold almost six times as many units as the original Xbox but a complex development platform and a number of lacklustre launch titles gifted the 360 a head start over the PS3.

Sony is particularly fond of the PS3’s high price tag. At around £210 for a basic unit, the console is a steep £80 dearer than an entry-level Xbox 360.

Sales of the Nintendo Wii, the Xbox 360, and the Playstation 3 skyrocketed last December. The former console sold around 700,000 extra units in just one month. Bosses at all three companies will be bracing themselves for another hectic month but Bill Gates may well get the best present of all this year: another victory over Sony.

Retailers could be in for a surprise this Christmas, as the video games industry threatens to snatch the sales crown away from both music and video companies, and the humble old wooden train.

Video games have long been associated with a niche community: the uncouth, bespectacled geek forever at odds with the outside world, and completely unable to detach himself from the glowing machine before him.

The stereotype was incorrect, of course, but the fear that pixelated tanks could obliterate a person’s charisma at fifty yards was a persistent one, and one that may have prevented conventional consoles from grabbing a bigger slice of the technology market.

Computer games are primed to outsell CDs and DVDs this Christmas for the first time ever. Grand Theft Auto IV, Gears of War 2, and Guitar Hero: World Tour are among the titles that are pushing video games to the top of the media podium.

Verdict Research, the company in charge of the recent poll, expects the total amount of money spent on video games to hit £4.6 billion by the end of 2008.

Many gamers have praised Nintendo for reinventing the digital wheel with its innovative Wii and DS systems. The DS alone has garnered the attentions of millions of women, a feat unachievable by its predecessors.

Piracy has wrecked the music industry and disgruntled artists are abandoning record labels in droves. The obligatory anti-piracy messages that come bundled with every DVD are a stark reminder that the audio-visual world is struggling to dissuade criminals from selling poor-quality versions of Indiana Jones at car boot sales.

Experts have concluded that the recent surge in the purchase of video games is a direct consequence of the credit crunch. Lara Croft and the simulated jungles of Africa provide a relatively inexpensive distraction from the outside world and offer greater longevity than Abba’s Greatest Hits.