Yoshida: PlayStation 3 finally making a profit

Four years since its launch in Japan and the US, SCE Worldwide studios boss Shuhei Yoshida has told IGN that Sony is finally making a profit with PS3.

Yoshida told the site the company is now making a profit on manufacturing the hardware.

"This year is the first time that we are able to cover the cost of the PlayStation 3," he said. "We aren't making huge money from hardware, but we aren't bleeding like we used to."

He stated, however, that there would not be a chance of a price-cut this year at least, with the company instead focusing on hardware bundles and getting more stock back into retail.

"We have lots of great games coming out and innovations with Move and 3DTV, so we don't believe this is the time for us to think about a price drop," he said.

Last August, Sony introduced a new form factor for PS3 in a Slim version, as well as a price-cut for fat PS3s, both at the price of £249/€299.