The late launch of Playstation 3 is still costing Sony, which yesterday reported that it will lose $413-million in its video games business this fiscal year – and it won't recover until there are more games available for the machine.

Sony reported quarterly losses for January to March of $563-million, slightly up on last year, blaming this on the cost of the launch of PS3 in the US and Europe. The PS3 was launched in the US in November and in EMEA in March.
The company has, however, predicted a record profit of $2.7-billion for the fiscal year through March 2008 citing the turnaround of the PS3 business and booming sales in flat-panel TVs and digital cameras. It is also confident about contributions from its Vaio PCs and Walkman portable music players.
Sony shipped 5.5-million PS3 machines in the fiscal year through March 31, 500 000 less than its target of 6-million.