Sony Admits PSN Is Losing

During an interview with Reuters Japan, Sony Computer Entertainment President Kaz Hirai admitted that the Playstation Network is still "in the red" money-wise and that he expects it to "enter the black" during the next fiscal year.

According to the report, Sony's PSN accumulated 36 billion yen (around $434.3 million) in fiscal 2009 and "almost double" that amount in fiscal 2010. Hirai hopes that the service will start turning profit in fiscal 2011 and expects it to sell upwards of 300 billion yen ($3.6 billion) during 2012.

To back his claims, Hirai noted that the number of registered PSN users has reached 60 million as of November 2010.

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