Lower PS3 price causes Sony to lose $841 million

Although us gamers waited anxiously for the price reduction for the PS3 it seems that Sony has suffered badly for it. The company has reported operating losses of $841 million in the gaming division in the second fiscal quarter of the year. Games Industry This is more than double of that last year which was $381 million.

Although this is bad news for the games division, Sony as a whole reported profits of $787 million which was better than last year as the electronic company had losses of $182 million this time last year. Let us hope with this price reduction for the Playstation 3 and more game titles coming out on the PS3 for the holiday period it should help the gaming division make back some of those losses.