Sony is investing a lot of money in the PS3, and it shows on their bottom line.

Sony Corp said its net profit for the first half to September tumbled nearly 72 pct to 21.20 bln yen because of falling prices of electronic products and high restructuring charges.

But the world’s second-largest maker of consumer electronics retained its forecasts for the year to March 2006, which were last revised a month ago, when Sony announced a three-year turnaround plan calling for 10,000 jobs to be cut and the shutdown of 11 manufacturing plants.

Sony will also be shutting down some plants that produce CRTs.

Under the plant closure program, Sony will shut down some of its CRT television assembly factories by March 2008 in order to shift its focus to the flat-screen TV business.

Forbes.com - Sony H1 net profit tumbles on lower prices, high restructuring costs