Sony predicts games losses to double

Sony has said that it expects losses in the unit to be double its initial forecast for the financial year ending March ’08.

Reuters reports that contrary to its initial prediction of losses totalling YEN 50 billion, it now expects its gaming losses to exceed YEN 100 billion ($875 million). The reason for the change is the lowered retail price of PS3, meaning Sony is making an even greater loss on every unit than it was before.

However, despite its gaming troubles, Sony still expects its overall electronics business to beat previous predictions.