Well, it's making money in the UK. I can't be bothered to find the source, but it's been making money here for a while now. At one point, the PS3's £425 price equalled a crazy $700 equivalent, and even at £300 it was about $520. Now the slim is $412 in the UK according to a quick google based on the current exchange rate.
It's a similar situation in the rest of Europe, too.







