Sony cuts PS3 sales target

Reuters

reports that the platform holder now expects to have sold 1.5 million fewer PS3s than its initial sales target up to March. But its handheld console has outstripped forecasts – Sony has raised its sales target for PSP for the current business year by three million to 13 million.

The change in forecasts comes as Sony Corp revealed that its Q3 profits were up six per cent, and its games business reached profitability following a cut in both production costs and price of PS3. Overall operating profits were up to 189.36 billion Yen from 178.91bn Yen a year earlier. For the year to March, the company also cut its operating profit forecast to 410bn Yen from 450bn Yen.