After remaining optimistic on PS3 for close to a year despite slow sales, NPD analyst Anita Frazier acknowledged on Thursday that time is running short for Sony to stage a turnaround in the console industry.

"There is no doubt that the window Sony has to turn this around and bolster their position in the marketplace is narrowing," she told GameDaily Biz.

On Thursday it was reported that PS3 sales had dropped by 21 percent in August, this after a single month jump in sales in July due to the machine's recent $100 price drop.

"With only 4 months left in this calendar year, November and December will be absolutely critical [for Sony] to gain more solid ground with the PS3," Frazier added. "The story is still not fully written, but it's coming much closer to being so."

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