Sony To Raise $3 Billion For Games Division

October 2nd, 2007 by James Hyde in Business, PSP, PlayStation 2, PlayStation 3

Sony has announced that the company hopes to raise $3 billion in an IPO of its financial unit, raising the much needed money for the gaming and electronics division. Reuters reports that Sony will sell 40% of the shares in Sony Financial, total value is around 348 billion yen, or just over $3 billion USD. Sony’s game division recorded a $237 million loss last quarter, so the money is certainly needed these days.

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Tags: Business, PlayStation 2, PlayStation 3, PSP


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One Response to “Sony To Raise $3 Billion For Games Division”

  1. Ron Says:
    October 2nd, 2007 at 8:55 am

    Or they could try to make money on their gaming division, which apparently is a maddening new concept endorsed only by fools and Nintendo.

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