23/05/2014 10:23 BST | Updated 23/05/2014 10:59 BST

Sony Says The PS4 Is Already Making A Profit

Sony has revealed that it is already making a profit from the PS4.

That might not sound like big news, but consider this: the PS4 has been out for about six months. The PS3 took three years to turn a profit.

And in the context of Sony's continuing financial issues, that's a big deal.

Speaking at a corporate strategy meeting, according to Engadget, Sony's president Kaz Hirai said the PS4 is "already contributing profit on a hardware unit basis, establishing a very different business framework from that of previous platform businesses".

That puts the PS4, which has sold about 7 million units since its release in November, on a track to match the performance of the PS2, which is Sony's biggest gaming success so far.

There is lots of other good news on gaming for Sony, if you know where to look: half of all PS4 owners are using the PS Plus subscription service, for instance, while gaming sales are up 53% overall.

With PS Now (Sony's streaming games service) and its cloud-based TV streaming service coming up for release soon, there is a strong silver lining around Sony's otherwise cloudy outlook.

Hirai sees the whole system as having the "potential to combine and develop into a platform capable of generating even greater profit".

Microsoft appears to agree - it recently announced it would start selling a cheaper Xbox One without the bundled Kinect motion camera, in order to more closely compete with Sony on price.