Sony boss says PS3 is starting to break even

"This year is the first time that we are able to cover the cost of the PlayStation 3," said Yoshida. "We aren't making huge money from hardware, but we aren't bleeding like we used to."

The fact that the PS3 hardware was sold at a loss wasn't necessarily a huge problem; console makers traditionally make minimal return on consoles and see the largest profits from games and licensing fees. Still, Sony has had a tougher time of it than it may have been used to, financially.

Yoshida also said that Sony would not be issuing PS3 price cuts this year.