Sony reports profits despite losses on PS3

Posted May 16, 2007 at 7:10PM EST by QJ Staff

Listed in: PS3 Tags: Associated Press, playstation 3 updates, PlayStation Network, Sony

Despite the many reported losses that the games division of Sony is reportedly getting due to the less than dominant performance of the PlayStation 3 so far, it is surprising to hear that the company still predicts profits for the fiscal year.

The company as a whole forecasts a record profit for the fiscal year through March 2008 at US$ 2.7 billion. This profit is attributed to booming sales of flat-panel TVs and digital cameras.

So when can we expect the games division to recover?

According to an Associated Press report by Yuri Kageyama, a Sony executive said that Sony will lose about US$ 413 million in this fiscal year, and recovery from the losses won't come until the arrival of more games to play on the PlayStation 3. Senior Vice President Takao Yuhara said that what's most important for Sony right now is software.

Yuhara declares: "In every region, our software lineup will be strengthened."

Great. So yet another executive/analyst/company spokesperson says that the PS3 needs more games. That's certainly something we haven't heard before?

However, given that the company reports that they're still foreseeing a massive influx of profits, especially from their HD TVs, perhaps their High Definition strategy for the "Next Generation" is more on track than others have thought.

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we want games lots em but but do not stink so low as to promising/bundling a beta for a popular franchise so that the poor game can get lots of sales, other companies are using strategies from the cheat book just to earn a profit. and yes its official, people that bought that generic game for the promised Beta got ripped because they get to play exactly on the date promised, i hope they get compensation for that.

just dont cheat people and i know the grand slam will occur.

# woops typo — Guest 2007-05-17 23:25

i mean those people DID NOT get to play the beta on the promised date/time.

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Sony reports profits despite losses on PS3

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