SONY's losses were inline with expectations.
As far as the game segment goes it seems SONY is now planning to just survive this generation and aim for profitability next-gen, which would confirm that PS4 will launch at a slight loss or slight profit in order to prevent a repeat of SONY's current situation.
( I can also see SONY's electronics division attempting to launch a new brand of cheaper / lower quality products since high priced products like Bravia's / VAIO's don't sell well in recession )