Kaz Hirai: PS3 could be profitable next fiscal year

Sony bigwig Kaz Hirai is hoping that this next fiscal year, which begins in April, will mark a point where the PlayStation 3 loses its money sink status and becomes profitable. Said the president of SCE at the Consumer Electronics Show (via Reuters), "We want to get to the positive side of the equation as quickly as possible," later adding that the company is "going through the budgets right now. That (profitability) is not a definite commitment, but that is what I would like to try to shoot for."

Hirai cites the dropping costs of components used to make the PS3, as well as the removal of chips related to backwards compatibility, as examples of how the console is becoming cheaper to produce (and therefore less of a detriment to the company's bottom line). Hirai noted that the declining cost is "in line with what the company had expected." Not explicitly stated but certainly important are the titles expected next fiscal year: LittleBigPlanet, Home, Final Fantasy XIII, and the still-exclusive Metal Gear Solid 4.

Previously, Sony stated that it had sold 1.2 million PS3s since Black Friday -- NPD figures for December should reveal how that measures up to competitors. Microsoft recently stated its belief that the Xbox 360 is "on track to register the biggest year in video game history," while the Consumer Entertainment Association predicted industry growth to continue, albeit at a slower pace than last year.

This article was originally published on Joystiq.