Sony blamed the Playstation 3 this week for mounting losses in its game business.
The company told Reuters this week that it expects to lose $1.7 billion in its game division partly due to the price cut for the 20GB PS3 SKU in Japan.
The PS3 will drop to Japan on Nov. 17. The 20GB SKU will be sold at $430 U.S.
Sony cut the entry price for the next Playstation due to strong competition from Nintendo and Microsoft.
Nintendo will release Wii to Japan on Dec. 2 at $212 U.S. Microsoft will introduce a Xbox 360 Core System to Japan on Nov. 2 for $256 U.S.
In addition, Sony’s PSP handheld sales have slowed compared to Nintendo’s DS handheld. Last week, it cut shipment forecasts for the handheld to 9 million from 12 million units.
Sony said it will look to its solid movie and electronics business to offset losses from the game division.
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