Sony looks for profits elsewhere to offset PS3
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Sony is looking for profits in movies and consumer electronics to offset the costs related to its upcoming PlayStation 3 game console, the company said Monday. However, the world’s second largest consumer electronics maker said it still plans to achieve profit margins of 5 percent next year.
However, Sony expects losses at its game unit to nearly double from its initial estimate to $1.71 billion (200 billion yen) for the fiscal year that ends in March. That’s in part because it has chosen to cut the release price of a PS3 with a 20GB hard drive by 20 percent in Japan.
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