Sony says good times ahead for PS3

Sony says good times ahead for PS3
Sony Corp predicted a brighter future for its PlayStation 3 console, stating that over 380 games will be released this year, which will ensure that dipping sales of the console will be a thing of the past.

Announcing the increased number of titles to be available on PS3, Sony Chief Executive Howard Stringer said, "Attractive game software is the key to accelerate PS3 growth over the next year". Stringer was speaking at the shareholder's meeting on Thursday.

Stringer revealed that over 200 games will be available for the PS3 by March next year while more than 180 games will be released on the Internet for gamers to download. Stringer said that the company has set an aim of shipping out more than 11 million game units by the end of the current year.

Sony has suffered huge losses from its next-gen videogame console and has seen the PS3 take third position behind Nintendo's Wii and Microsoft's Xbox 360 in the next-gen console race. The company has posted a $1.88 billion loss for last year, with gamers preferring Wii and Xbox 360 over PS3.

Wii has outshone PS3 in every region, with the console outselling PS3 by three to one in Japan, according to research firm NPD. Things are not good for Sony in United States too, with Wii selling more than twice the number of PS3 consoles sold by Sony.

Company shares were at 6,520 yen, down by 1.5 percent compared to the overall gain of 0.49 in the Tokyo stock market's electrical machinery index