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PS3 price cuts boost Sony profits

January 31st, 2008 · No Comments

While the profitability of its overall electronics business appears dented because of worldwide price erosion in flat-panels, Sony has still managed to report a jump in profit for the last quarter as its PlayStation 3 business finally stopped gouting money.
Production cost-cutting and growing sales of the price-reduced next-gen console have reaped dividends. In its latest financial statement the Corporation reveals that sales in its electronics segment increased by 10.2 per cent, while sales in its games division rose by 31.2 per cent. Sony says gains in its operating income are due to a “significant decrease in the operating losses of the PS3 business as a result of successful hardware cost reductions.”

Tags: Corporate · HD DVD and Blu-ray · Trade · Video games

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