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PlayStation 3 was way overpriced and still lost money on each unit, former Sony exec says

The PlayStation 3 was a technical marvel when it came out in November 2006, but despite its success, it caused numerous headaches for former Sony Computer Entertainment America CEO Jack Tretton. Tretton, speaking in a video interview with IGN, said the console faced an uphill battle because the Xbox 360 had been out for a year, and the $600 price point for the new console mad it much more expensive than its Microsoft counterpart.
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