Sony Sells 4.9 Million PS3s in Q3, Hits Profit Zone

Running high on improved sales of the PlayStation 3 and PlayStation Portable, Sony's game division has finally returned to profitability after six straight quarters in the red.

Sony sold 4.9 million PlayStation 3 units between October and December, as compared to Nintendo's sales of 7 million Wii consoles in the same time frame, according to the New York Times.

Yearly sales of the PlayStation Portable were also estimated to top expectations, with Sony adjusting its target to 13 million units. The company's fiscal year ends in March.

The profit increase is seen as a result of Sony cutting production costs and retail prices of the PlayStation 3, in addition to a larger supporting lineup of games.

Despite the overall upswing of the division, the PlayStation 3 is still running at a loss for the company, with Sony adjusting its sales forecasts from 11 million units to 9.5 million on the year.