Sony has upped their target title output for their next gen PS3 video game console. Earlier reports from last month's Gamers Day have pegged Sony's target at 90 third-party titles and 15 exclusives for the PS3.

According to a report from Reuters, Sony Computer Entertainment (SCE) President Kazuo Hirai was quoted by the Nikkei business daily as saying that Sony is now looking to release 200 software titles and 180 download-only titles for the PS3 from now until March of next year.

There are currently around 130 software and download-only titles available for the PS3. Sony is hoping that an influx of new titles will help pull up PS3 sales. Sony Chief Executive Howard Stringer also stressed the importance of attractive game software as "the key to accelerate PS3 growth over the next year" during the annual shareholders' meeting Thursday.

In the Nikkei interview, Hirai reportedly said that Sony would also be working with video game publishers on marketing their titles to help ensure good sales. This would include events and in-store promos.

The Nikkei Business Daily has reported certain predictions regarding the financial effect of the PS3 and LCD TV sales on Sony, and the forecasts are looking really good. By good, we mean a fivefold jump of the company's operation profits. This brings up its OP to ¥ 400 billion or US$ 3.36 billion.

It is expected that Sony's group sales will be climbing by 6% to ¥ 8.7 trillion by March 2008. This conclusion was based on a consensus forecast of analysts gathered by Nikkei's financial information service Quick.

While the strong sales of LCD TVs played a part in this expected rise, they have specifically mentioned the PlayStation 3 (PS3) because it is by far the biggest earner in the equation this year. PlayStation 3 shipments are expected to go up by about 67% to 10 million units from 2007 to 2008. This was majorly affected by IBM's reduction of chip cost production and the improvements in production efficiency.

Last year's launch of the console hit the company's books real hard with operating losses of around ¥ 200 billion, profits were also hurt by the battery recall issue which was said to have lowered the company's operating profit by about US$ 432 million.

If the analysts' predictions hold true, then Sony will be on the fast track to making back the money it lost with a hefty profit to boot.