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Sony to Sell PlayStation Vita at a Loss

Company expects to reach hardware profitability within three years.

Well what were you expecting with games that look like that!?

Sony has packed quite a bit of game into PlayStation Vita. And they're selling it for ¥24,980, the same price as the 3DS.

Not surprisingly, Sony will be incurring a loss on Vita sales. In an interview with Reuters, Sony consumer products head Kaz Hirai said that the company expects to begin making a profit on the hardware within three years.

Hirai also said that he hopes to make Vita sell more units than the PSP. Coinciding with the Vita name and price announcement at Sony's pre E3 press conference earlier today, Sony revealed that PSP has shipped 70 million units.

Reuters also reports that Sony Computer Entertaiment America president Jack Tretton said that while Vita will be released in Japan within the year, the release could come later in some other territories.

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