Some clever chaps at the Wall Street Journal have grabbed their calculators and worked out that Sony is still losing money on the PlayStation 3, the first version of which was launched back in 2006.

Despite some recent sales success for the high-end console, it seems the Japanese gaming giant is taking a loss of around $18 for every single console it sells which might sound a lot but is less than the $37 a previous estimate put it at.

The WSJ came to this conclusion by analysing Sony's third quarter financial results, deducing that the company loses 6 cents for every dollar of hardware sales. Sony has revealed plans to cut production costs further with CFO Nobuyuki Oneda telling the WSJ PS3 will see productions costs cut by"15% in the fiscal year ending March 2011".

Oneda said this alone will generate "tens of billions of yen".