Sega Posts $169M Loss
Created 11/30/2001 - 00:00
An AP Newswire brief stated that Sega Corp. has reported a $169 million loss for the first fiscal half, largely because the declining value of its investments more than offset the improvement in its video-game business. Sega, which earlier in 2001 abandoned production of its Dreamcast game system, has also announced another reduction in price for the discontinued console. The Dreamcast system, which originally retailed for $199, will now be available for $49.99. Sega hopes the drastically reduced price will move the remaining 270,000 units out of stores by the end of the holiday season. Dreamcast has a game catalog of about 200 titles. Sega's company focus is now on third-party publishing and to that end the company has been aggressively forging deals to create games for Sony PlayStation 2, Microsoft Xbox and Nintendo's GameBoy and GameCube console.