Adario Strange
Business

Sony Bottom Line Hit Hard By PlayStation 3 Debacle

The news for Sony CEO Howard Stringer is bitter sweet—"Spiderman 3" is a cash cow, but the company’s gaming unit is almost in freefall due to lackluster sales of the PlayStation 3. Variety Asia reports… “Sony lost more than half a billion dollars in the fourth quarter, but it was the pesky PlayStation 3 — […]

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The news for Sony CEO Howard Stringer is bitter sweet—"Spiderman 3" is a cash cow, but the company’s gaming unit is almost in freefall due to lackluster sales of the PlayStation 3. Variety Asia reports…

“Sony lost more than half a billion dollars in the fourth quarter, but it was the pesky PlayStation 3 -- not the entertainment division -- that was responsible for the red ink. Company posted a loss of 67.6 billion yen ($573 million), about 1% more than loss in comparable quarter last year, even as sales in the frame were up 13% to $16.8 billion.”

Photo: MoonSoleil