Sega Corp. has announced that it will cease production of its next-generation gaming console Dreamcast and will focus on game creation for Sony's PlayStation 2, Microsoft's Xbox and Nintendo's Game Boy Advance and GameCube. "It's becoming harder and harder to be profitable with a hardware platform. It's the games that matter," said Peter Moore, president of Sega's U.S. operations. Very low holiday sales are attributed to this decision. As a result, the company will cut prices on the remaining consoles from US$149 to $99.95 beginning Sunday, February 4, 2001. In addition, the company doubled its projected fiscal loss for the year from ¥23.6 billion ($203 million) to ¥58.3 billion ($501 million).
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