Following a holiday season at the bottom of the sales charts, and facing mounting losses throughout the company, Sony has reiterated its focus on turning the PlayStation 3 into a money-making machine.

"The most important thing for us as a company in the very short term is for us to start making money," said SCE Europe president David Reeves in a statement on the official PlayStation website. "Once we have alleviated that specific pressure, we can move forward at a rate of knots."

The PlayStation 3 sold less than half the units of the Xbox 360 in the key holiday sales month of November. Sony's console is the most expensive of its competitors, with its cheapest model selling for $399--double the price of the stripped-down Xbox 360 Arcade.

While Sony has previously denied rumors of a PlayStation 3 price cut in the near future, Microsoft's Aaron Greenberg says that his company expects a PS3 price reduction any day now.

"We absolutely expect the PS3 price drop to happen in the next couple of months," said Greenberg in an interview with Edge. "We're frankly surprised it's taken this long... I would expect they'd have to move on price, sooner than later, for sure."