PlayStation 4 already proving to be profitable for Sony, set to beat PS2's record

Sony has been suffering a considerable amount in losses from its products for some time now. If it wants to continue being a part of the race to lead consumer electronics, it has to revive its flagship products like PlayStation. The company has already made a significant profit with the new console, as reported by Engadget. Sony had invested a considerable amount in the hardware of the console and they hope to cover the losses by beating the profits made from their iconic PS2. The report claims, Sony's President Kaz Hirai who spoke at a corporate strategy meeting said that PS4 was contributing to profit on a hardware unit basis establishing a new framework of business, as compared to the previous platform businesses. It is obvious that the PS4 has gained more traction than the PS3 and is paving a path towards becoming as legendary as the PS2. Sony has been creating quite a buzz with the company’s recent full-year earnings report showing a giant leap forward with 54 percent in gaming-related sales, said the report. Sony’s gaming services ‘PlayStation Plus’ also recorded in the positives with half of the 7 million PS 4 owners registering for it. Sony is still not out of the slump, the company still forecasts an overall loss for 2014. According to the claims made in the report, Hirai still has high expectations from the upcoming launches of PlayStation Now and Sony’s cloud-based TV streaming service.