Sony will lose about 50 billion yen ($413 million) in its video games business this fiscal year, and recovery won't come until the arrival of more games to play on the PlayStation 3 machine, a company executive said Thursday. Intense competition with Nintendo Co.'s hit Wii, with its unique wand controller, also has hurt PS3. Although PS3 losses are expected to shrink with cost cuts this fiscal year, the key lies in having Sony and outside game-makers produce attractive games to play, which fully exploit the machine's expensive technology.
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