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Sega Reports $169 Million Loss

Sega reported a $169 million loss for the fiscal half, largely because the plunging value of its investments more than offset the improvement in its videogame business after it abandoned the Dreamcast console.

Dreamcast sales never caught up with rival Playstation 2. Getting rid of inventory at slashed prices, worldwide Dreamcast sales finally reached about 10 million this year. Sega said it will likely sell all the remaining Dreamcast machines during Christmas. The leftover Dreamcast consoles total 40,000 in Japan and 230,000 in the U.S. Sega’s loss was 20.87 billion yen in the six months ended in September versus a loss of 32.46 billion yen a year ago. Sales fell 18 percent to 97.79 billion yen from 119 billion yen a year ago, as it was forced to scale back under its turnaround plan. Sega said it was hoping to rely on its established brand in Japan, the U.S. and Europe to grow as an entertainment company specializing in games.

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