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Sony hemorrhages cash on PS3

It is still not making money
Thu May 17 2007, 09:53
SONY, WHICH hoped to be in the black this year, is still losing money on its PS3 console.

The outfit said that it estimates its game unit will post an operating loss of about $413.9 million in the business year to next March.

While this is a bit more optimistic than the loss it predicted before, it is fairly clear the outfit has not recovered from its disastrous PS3 launch.

Sony said that it expects sales at its main electronics unit to rise four to six percent in 2007/8 from a year earlier. It is hoping to be dragged into the black by its strong flat-panel TV sales and might make a profit by March 2008.

More in the Washington Post. µ


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