enchanter

Description: However, they were priced at US$499 and US$599 respectively, meaning that every unit was sold at an estimated loss of $250, contributing to Sony's games division posting an operating loss of 232.3 billion (US$1.97 billion) in the fiscal year ending March 2007. In April 2007, soon after these results were published, Ken Kutaragi, President of... ( +expand to view full text )

Description: However, they were priced at US$499 and US$599 respectively, meaning that every unit was sold at an estimated loss of $250, contributing to Sony's games division posting an operating loss of 232.3 billion (US$1.97 billion) in the fiscal year ending March 2007. In April 2007, soon after these results were published, Ken Kutaragi, President of Sony Computer Entertainment, announced plans to retire. Various news agencies, including The Times and The Wall Street Journal reported that this was due to poor sales, whilst SCEI maintains that Kutaragi had been planning his retirement for six months prior to the announcement.