Playstation 3 Sales up, Sony profits Down

A bit of good news mixed with bad news for Sony this morning. Sales of the Playstation 3 have gone way up. 3.2 million units were sold during the second quarter of this year, up from 2.4 million in the previous year. That’s the good news.

Now for the bad news. Despite higher sales of the PS3, Sony still suffered a 6.3 billion yen ($289 million) quarterly loss. The company has undergone aggressive cost cuts, shut plants, reduced suppliers and slashed jobs, but it hasn’t been enough. The global economic slump and lack of hit products like Apple’s iPhone and Nintendo’s Wii have hampered recovery efforts.

[Via AP]