Sony expects game losses to double

Sony has announced that it expects losses at its videogame unit to double for the year ended March 2008, from JPY 50 billion (303.5 million) to over JPY 100 billion (EUR 609 million).

According to a report by Reuters, a spokesperson for Sony said although the firm will see massive losses in the games department, the general electronics business will see an operating profit margin of five per cent by the end of the fiscal year, one per cent above targets.

Sony announced its financial results for the second quarter last Thursday, showing an overall revenue growth year-on-year of 12.3 per cent and an operating profit of JPY 90.5 billion (EUR 549.3 million).