Sony Computer Entertainment CEO Kaz Hirai announced in Tokyo streaming video for both the Japanese company's Bravia line of TVs and the Playstation 3 gaming console. The PS3 will allegedly receive a movie download service before the end of the summer in the United States.

More details are expected next month, probably at Sony’s pre-E3 Media & Business Summit. Japan and Europe will be able to use the service shortly after the U.S. launch. Sony’s movie download service for the PlayStation 3 and Playstation Portable was announced last year, but it was apparently delayed. In July 2007, Sony said it would launch the service soon, but a year has passed since that announcement.

Also, CEO Kaz Hirai revealed "Life With PlayStation," a virtual globe software which is similar but apparently more professional than Nintendo's forecast and news channels. It will enable users to see a global weather satellite image in high resolution in addition to forecasts. The software also lets users read international news by clicking on dozens of cities.

The announcement comes shortly after Forbes reported that Playstation 3 has cost Sony an incredible $3 billion, mainly because of the company’s pricing strategy for the product. As PS3 hit the market, Sony wanted to recover some of the market share that Microsoft’s Xbox 360 had gained, mainly due to its launch a year before PS3’s. Sony thought that by selling its consoles at a price that would be a little less that their actual cost, it might gain more market share and it would be able to use it to make profit for the company from exclusive gaming titles and sales of its patented Blu-Ray DVD.

After enough units would have been sold, production cost would have dropped, and Sony would have ceased to sell PS3s at a loss. Even though the last predicament has come true, the unexpected success of Nintedo’s Wii console has interfered with Sony’s strategy. The company has seen its expectation of game title market domination be blown to smithereens as Wii came out with more and more exclusive titles, and its console sales soared.