As what should come as no surprise to anyone really, the fact that companies lose money with consoles and only make profit off the games, leads to news that Sony, due to the high price of the PS3, is looking to take a hit with its finances. So how much money is Sony looking at losing?

From the article:

In a statement today, Sony said losses from its PS3 operation will be higher than expected, partly due to the price-cut in Japan, and partly due to shortages and the European delay. The firm has also cut forecasts for PSP shipments by 3 million to 9 million.

Net income for the year ending March 31, 2007 will drop 35 percent from last year to 80 billion yen ($675 million). That’s a 50 billion yen drop from July’s forecast, since which the firm was hit by laptop recalls due to faulty batteries and various PS3 problems. Sony reported a second-quarter operating loss of 21 billion yen, compared with a 66 billion profit a year ago.

Read the full article over at next-gen.biz