Just for precision, from this source: http://www.sony.net/SonyInfo/IR/financial/fr/11q2_sony.pdf

Page 3 and 4:

Sales decreased 12.3% year-on-year (a 7% decrease on a local currency basis) to 779.7 billion yen (10,126 million
U.S. dollars). Sales to outside customers decreased 12.4% year-on-year. This was primarily due to a decrease in
LCD television sales, reflecting price declines due mainly to deterioration in market conditions in the U.S. and
Europe and unfavorable foreign exchange rates, lower PC sales reflecting price competition, a decline in sales of
the game business, reflecting a strategic price reduction of PlayStation®3 hardware in advance of the year-end
holiday season, as well as a decrease in sales of compact digital cameras resulting from lower unit sales due to a
slowdown in market growth and unfavorable foreign exchange rates.

Operating loss of 34.6 billion yen (449 million U.S. dollars) was recorded compared to income of 1.0 billion yen
in the same quarter of the previous fiscal year. This was primarily due to deterioration in the cost of sales ratio
and a decrease in gross profit due to lower sales, partially offset by a decrease in restructuring charges. Categories
contributing to the deterioration in operating results (excluding restructuring charges) include LCD televisions,
reflecting a decline in unit selling prices that exceeded cost and expense reductions, the game business and PCs,
reflecting lower sales as noted above. Operating loss included additional LCD panel related expenses resulting
from low capacity utilization of S-LCD as well as the above-noted asset impairment of 8.6 billion yen (112 million
U.S. dollars) associated with LCD television assets.

Page 20 of the PDF / Page F-8 of the document:

Wow I wasn't aware that Sony made almost as much revenue on their gaming division as their other big divisions. That's quite impressive really.

This is why reading the financials is fundemental to understanding.  Sony specically states that the Game division LOST 7.7% in a 3 month period and 9.6%  in a 6 month period, both ending Sept. 30, 2011 (30/9/2011).  Granted, the loss that SCE suffered was the least of the Consumer Products and Services division, but their loss was greater than half of the total revenue of the Professional Device and Solutions division, and it could completely erase all of or the majority of the Music and Pictures divisions revenue.  So it IS a substantial loss.

Sony is the one who attributed their losses to the price cut.  Sony is stated that they suffered losses in related to their gaming business in their financials.  This has nothing to do with anything being taken out of context, it has to do with facts. 

http://www.sony.net/SonyInfo/IR/financial/fr/11q2_sony.pdf (Page 20 of the PDF / Page F-8 of the document)

It never was a XB360 celebration thread, it's about XB360 challenging PS3 for the yearly best seller home console, there isn't a privileged faction with the right to have a positive thread for themselves, just the hard final (unless adjusted later, that is  ) yearly numbers will count and decide. And while I don't know who derailed the thread first, too long, I didn't and won't read it all, the first that mentioned profits and losses, even mixing the latter up with revenue decrease, to say that even if PS3 wins, it won't be a true victory, wasn't a PS3 fan, IIRC.

Anyhow, the true, uncredited winner will be the PC, as usual.   

Edit: BTW, I think that should XB360 miss the victory by a few tens thousand, reasonable PS3 fans will anyway agree that recovering almost completely the lead accumulated by Sony in 44 weeks just in the last 8 weeks is quite a big achievement, while reasonable fans of either console will acknowledge that both had a great year, peaking both when Wii, that must still considered the gen winner, is already declining in quite a sad way.