PS3 profitable by August, say Nikko Citigroup analysts

Analysts from Nikko Citigroup are predicting that Sony's PS3 business will reach the break even point in August

Nikko Citigroup analysts have upgraded their rating on Sony, anticipating that the company will start to break even on the PS3 in August.

If correct, this would be three months earlier than analysts have previously speculated. In January, Sony's Kaz Hirai said that the company would be shooting for profitability within the fiscal year that began in April.

According to Endgadget, Sony's break even point will come only when both the cell processor and RSX graphics chip are shrunk to smaller sizes.

The latest news has caused rumours of a slimmer model PS3 to resurface, although Sony has not commented on such speculation.

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