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Sony's PS3 Is Profitable!

by Matt Miller on May 13, 2010 at 11:20 AM

It's an often cited fact that console publishers sell their consoles at a loss, particularly in the early years. Sony seems to have turned a corner, and the PS3 is bringing in a profit for the first time.

The news, first reported by Japanese gaming news site andriasang, reveals that Sony's PS3 began turning a small profit at the end of March 2010. Sony CFO Nobuyuki Oneda believes that the profits will increase in the coming months thanks to potential cost cutting measures.

The PlayStation 3 sold well for Sony throughout 2009, with 13 million units in sales – an uptick from the previous year's 10.1 million units. However, PSP and PS2 sales have begun to drop off, dragging down the potential profit upswing on the newer console.

From a game library standpoint, this year looks to be a strong one for Sony. Given some of the big releases they've had so far like God of War III and Heavy Rain, and more to come throughout the rest of the year, the PS3 has the potential to continue its growth this year.

Can Sony hold on and continue this trend in the coming months?