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Sony to raise $2.9B for electronics and gaming divisions

Nilay Patel

War ain't cheap, kids -- just take it from Sony, which is currently duking it out on both the PS3 and Blu-ray fronts. According to Bloomberg, the company is organizing a ¥332B ($2.9B) IPO of its insurance unit, and plans to funnel the cash back into its electronics and gaming divisions, which have been doing well, but not exactly blowing the competition out of the water. Pretty stuffed-shirt news, to be sure, but we're certain the Sony fanboys in the house can spin this into something bigger -- 3D Blu-ray license, perhaps?

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