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Samus Aran said:
PS3 never did a turnaround. It failed, no profits, huge losses.

It went from losing several billion a year to making a modest profit, and fixed the damage its launch had done to the brand. It may still have been an overall financial failure, but it ended on a much higher note than it started. It "turned things around" :p

Regardless, it appears the OT is talking about sales. Though the PS3 never really did a turnaround there (at least not in the traditional sense). It just had an incredibly long sales curve, likely because of its starting price.