The PlayStation 3 was a great bit of kit and was substantially more powerful (on paper at least) than its rivals at that time. However, that also translated to a higher manufacturing cost. To stay competitive, this meant Sony had to reduce its selling price and take a hit on every console sold. Whether that move paid off or not is debatable, but whatever it is, Sony is keen to avoid that mistake.
Fortunately, Sony Corporation President Kaz Hirai has just said that the new PlayStation 4 is already profitable, commenting that the company's latest console is “already contributing profit on a hardware unit basis”.
On top of that, Sony also officially announced that it will be entering the China market. It will be partnering with Shanghai Oriental Pearl Culture Development to form Sony Entertainment Shanghai.
Just a month ago, Microsoft announced that it will enter the China market and will begin selling Xbox One consoles in September and that it will do so in collaboration with BesTV. Interestingly, both BesTV and Shanghai Oriental Pearl Culture Development are part of a larger company known as Shanghai Media Group.
Sony has yet to confirm when they will begin sales in China.