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Long read: The beauty and drama of video games and their clouds

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Sony Corp. makes billion-dollar loss

But things are looking up for PS3 and PSP.

Sony expects PS3 and PSP to perform better this year and sell 13m and 15m units respectively by April 2010.

The company was speaking in its annual financial report for the year ending 31st March 2009. During those 12 months, the PS3 sold 10.1m units and PSP 14.1m units.

Sony Corporation overall, however, lost over 1bn dollars. And the biggest sales decrease came from the Computer Entertainment sector, which subsequently blamed diminishing sales of PS2 and currency fluctuation.

It's not all doom and gloom, though, as operating profit for the Computer Entertainment division was halved, thanks to trimmed manufacturing costs and a 45 per cent rise in PS3 game sales.

Sony expects that software momentum to carry over into this financial year, forecasting a slight increase across all PlayStation platforms. The company also poured plenty of faith into digital distribution, claiming PlayStation Network sales will triple over the 12 months.

It's just a shame Sony no longer has the insight of David Reeves, who knew months ago that "the most important thing for [Sony] as a company in the very short term is for us to start making money".