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PS4 is a huge success. It's profitable, says Sony CEO Kazuo Hirai

25 May 2014, 7:17 am EDT By Joseph Mayton Tech Times
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Sony believes in its PS4. And the company is attempting to show that the gaming system has been a widespread success across the world by saying it is profitable, the company's CEO Kazuo Hirai said. This comes as the PS4 continues to battle Microsoft's Xbox One.

Although Sony is reporting that it is expecting nearly 500 million dollars in losses for the current fiscal year, Hirai believes the future will be bright for the company, and singled out the Playstation 4 as the company's backbone and future. He was talking at a company strategic meeting that was reported by Japanese local media.

Hirai said that "it is likely that PS4 will become the platform which exceeds the profits earned with PS2," alluding to the massive appeal and success of its PS2 system, which lived as the flagship gaming system for over a decade, but was discontinued in early 2013.

The PS4 will have a lot of work to do, considering it has sold more than seven mil­lion units in the first six months of being on the market. The PS2, in its 13 years, saw over 155 million units being taken off the shelves by consumers.

"Going forward, we will use streaming to deliver the PlayStation experience worldwide," he said. "We also plan to make PlayStation Now compatible with new Bravia LCD TVs to be launched in the U.S. market this year. And in the future, we intend to extend its availability to a wide range of networked devices."

That's good news for investors, many of whom had been tanking on Sony after the PS3 failed to garner the satisfaction and expectations Sony believed it would, with the Xbox 360 winning out as the favored gaming system.

But with many more markets yet to hit and nearly half of those who have purchased a PS4 signing up for PlayStation Plus - the unit's online ticket - that could mean a number of new opportunities are opening up for the company to generate additional revenue than on units and games being sold. It is unclear the specifics of Hirai's claims, but overall the mood at Sony appears to be one of hope and positive sentiments.

Hirai also said that the PS4 is already profitable and hopes the company can continue to build on the success, especially on the hardware side of innovation.

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