Sony’s top priority is to ensure that the company’s games and television businesses return to profitability, according to company chairman Howard Stringer.

Speaking at Sony’s annual shareholder meeting in Tokyo, Stringer said that the firm’s top priority is “to restore profitability in our television and game businesses,” both of which lost money last fiscal year, reports Bloomberg.

Under Stringer, the PlayStation division has lost $3.4 billion in the past two years, while its TV business suffered a $678 million loss in the year ended March 31, according to the site.

However, last month Sony forecast a turnaround for it games unit, which it expects to post an annual profit for the first time in three years come March 2009.

"Despite an expected decrease in game segment sales as a result of a decline in sales for the PlayStation 2 business, the game segment as a whole is expected to have positive operating income for the fiscal year ending March 31, 2009 as the profitability of the segment will improve significantly due to hardware cost reductions and an enhanced line-up of software titles in the PS3 business," the company said in a statement.

Global PS3 sales, which totaled 9.24 million units during the year ended March 31, are expected to top ten million units this fiscal year. Sony also forecasts that PSP sales will jump from 13.39 million units in FY07 to 15 million units. PS2 sales are expected to fall from 13.73 million units to nine million units.

According to Bloomberg, Sony is planning to unveil its next mid-term business plan on June 26.