Sony is red faced again.

The company says it will delay the launch of its 'Home' virtual world service for PS3.

The start was scheduled for later this year, but has been moved to next spring.

The new chief executive of Sony Corp.'s video game business, Sony Computer Entertainmen, said "We wanted to wait until we could offer what would be totally satisfying for consumers."

"Home" is a real-time interactive online world much designed for PlayStation 3

Millions of people enter virtual worlds like "Second Life" on personal computers, moving avatars, or computer graphics images of themselves.

Sony hasn't gotten its return on the PS3…yet.

The new CEO of Sony who took over from the "father of the PlayStation," has hinted at a new strategy at the electronics maker….

"We must get back to the basics," Hirai said.

Hmmm…and what might that mean?