Sony is banking heavily on its PS3 business to help return its game unit to profitability this year, according to a Reuters report.
President and group CEO of Sony Computer Entertainment Andrew House told Reuters that he has high hopes for the PS3.
"I think we will be profitable this year," House told the publication at Tokyo Game Show this week. "We have a growing installed base, growing connectivity of the PS3."
According to Reuters, Sony posted a 29 billion yen (US$371 million) operating profit in the year ending March 31, before reportedly cutting its forecast for sales of its Vita and PSP handheld consoles.
Reuters said that its investors are concerned that Sony will struggle to achieve a turnaround after slashing its earnings outlook, lowering its annual operating profit prediction to 130 billion yen from 180 billion yen.
Earlier this week, Sony announced its new PS3 model.