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PS3 launch hammers Sony's bottom line

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We don't typically cover financial statements here at Engadget, but when a company like Sony suffers a year of missteps highlighted by a massive battery recall and PS3 launch delays, well, we can't help but take a peek at that gnarled wreckage across the center divide. In the quarter ending March 31st, Sony suffered a ¥67.6 billion ($563 million) loss attributed primarily to the launch of the PS3 -- their worst quarter in four years. The matter was compounded by the fact that they reduced the price of the uber spec'd console and then sold only 5.5 of the 6 million PS3s they had targeted for the entire fiscal year. Still, Sony's once highly profitably games division is expected to make a recovery -- at least in part -- after they "strengthen" their game lineup this summer in their quest to sell 11 million PS3s before March of 2008. Godspeed Sony, you'll need it.

In this article: playstation, ps3, sony
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