According to GameDaily BIZ, at a recent Sony shareholders meeting, Sony Computer Entertainment president Ken Kutaragi has made the very bold proclamation that Sony aims to sell at least 100 million PS3s over the lifespan of the product. Sony Chief Executive Howard Stringer also reiterated the company's commitment to turning the company's recently ill-fated fortunes around, and assured investors that Sony will double its operating profit margin by the next business year.
For Sony's most recent fiscal period, which ended on March 31, Sony incurred approximately a $579 million loss, greater than at the same period one year ago, where Sony incurred a $492 million loss. The game division of Sony has still been turning a profit, but that might change at the launch of the PS3 when oodles of money are required to launch the PS3 globally. The PS3s will be sold at a loss early on, but the company is hoping its success will spur on Sony's long term recovery, especially as manufacturing costs go down for the console.