Sony: PlayStation Profits Tops 'To Do' List

Sony's chairman, Howard Stringer, has said that restoring the profitability of its PlayStation and television businesses is the company's "top priority".

He made the statement at the company's annual shareholder meeting in Tokyo today. It comes following Sony posting a loss for its games division for the year ending March 31st. Indeed, the company has posted losses in its games division for the last three years running thanks to the costs associated with getting the PlayStation 3 to market.

If that sounds a bit dry, how about this comment about the PS3 that reportedly spilled forth from Mr Stringer's mouth recently - "It was on life-support for a while". It's not all doom and gloom, however. Stringer apparently followed up by saying that the PS3 is being turned around now. Sony said following its last earnings report that the games division would post an annual profit this financial year.

Interestingly, at the meeting a shareholder motion to force Sony's board to disclose its salaries and retirement packages was defeated. It seems like a fairly reasonable request to SPOnG.

^{Source: Bloomberg}