Post by HundredProofSam on May 19, 2007 14:09:00 GMT 6
Tokyo, May 17 (Bloomberg) Sony Corp, the world's largest game console maker, said it will cut PlayStation losses by almost 80 per cent this year by raising sales and slashing production costs.
The game unit will post about a 50 billion yen (414 million US dollar) operating loss in the year ending March 2008 and turn profitable the following year, Sony's head of investor relations, said in Tokyo today.
Increased demand for PlayStation 3 may help company to meet its goal of generating 5 US dollar of profit for every 100 dollar in sales to produce record net income.
The console has so far been outsold by Nintendo Co's Wii, leaving the company reliant on Bravia flat-screen televisions and Cyber-shot cameras for growth.
Sony yesterday forecast net income for the year ending March 31, 2008 will more than double to 320 billion yen this fiscal year on sales of Bravia TVs and narrower losses at the game unit.
The full-year forecast doesn't include the expected gain from a planned initial public offering of Sony's financial unit later this year.
PGR 3 | Fight Night 3 | NBA 2K7 | Gears of War | Rainbow Six Vegas | Splinter Cell DA | PES 6 | FIFA 07 | Crackdown | Amped 3 | Top Spin 2 | Virtua Tennis 3 | Yuvraj Singh 2007 | Forza 2 | DiRT
when the playstation 3 was announced 2 years back a lot was riding on it,the gaming unit was the only thing that was profitable for sony ,but 2 years later things have changed the LCD tv's are selling well the cyber shot cams and mobile is doing well sony pictures got 2 massive hits this year. the BR-disc is winning the psp sales have picked up and the ps2 is still the most selling system after Ds and wii
We're not tools of the government, or anyone else. Fighting was the only thing... the only thing I was good at. But... at least I always fought for what I believed in.