Sony faces $366.6 Million loss in games division

By Justin Mann on October 26, 2006, 7:12 PM
Some real figures regarding the hurt Sony has been put under recently have been made available. For their overall company, profits were only a fractional 6% of what they were a year ago at $14.3 Million. What's even more astounding is that their games division has reported a loss rather than a profit. A massive one at that, with a loss of $366.6 Million. Various reasons have been cited for the losses, including the costly battery recall, production and launch of the PlayStation 3, reduced pricing on the PS2 and PSP as well as others. Slower software sales also played a part.

Supposedly they will still retain a healthy profit through the end of the year, though one must wonder how much of that is based on the potential sales of the PS3 and its games. Likely, Sony is not counting on their games division making much of a profit, if any, for a long time.

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