Sony To Raise $3 Billion For Games Division
October 2nd, 2007 Posted 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.
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.