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Losses in Sony's games division double

Justin McElroy

Though that PS3 price may still require a little more wallet thickness that you feel comfortable with, it's apparently been low enough to heavily impact Sony's games division pocketbook. The company has just reported that in the second fiscal quarter of the year, operating losses in the division rose to $841 million, more than double the $381 million in losses for the same period last year.

Sony said losses came from selling PS3s lower than production costs and "the increase in PS3-related inventory write-downs," which means that the value of the PS3 has dropped, perhaps due to recent price cuts. On the upside, the company as a whole pulled in $787 million, compared to a $182 million loss last year, so it doesn't seem that Maw and Paw Sony will have to dip into their coffee can full of nickels just yet.

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