Sony loses $3.31 billion on PS3 in two years

By Patrick Garratt
23 June 2008 20:53 GMT

According to full year results, Sony has lost a total of $3.31 billion on PlayStation 3 in the past two years.

The cash – made up of $2.16 billion in 2007 and $1.16 billion in 2008 – was binned as a result of pricing the machine lower than its production cost, the company said.

In a statement likely to whiten the cheeks of investors, Sony said, “the large-scale investment required during the development and introductory period of a new gaming platform may not be fully recovered.”

The firm added: “In the past, large-scale investment relating to capital expenditures and research and development for the manufacture of key components, including semiconductors supplied for [PlayStation 3] was also recorded within the Electronics segment.”

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