Sony's Q3 results are pretty bleak

  • Posted February 7th, 2013 at 04:30 EDT by Don Oliveira

Sony Corporation today unveiled its Q3 financial results, with the console maker’s gaming sector recording a 15.1 per cent drop in sales – that’s a whopping 86.4 per cent decline in overall income.

Unfortunately for the electronics giant, it wasn’t just gaming that took a hit; many of Sony’s other divisions suffered losses.

Sony posted sales of 268.5 billion yen for the quarter ended December 31, down year-on-year from 316.1 yen billion. As a result, profit fell from 33.8 billion yen to 4.6 billion yen from the same period last year.

The company attributed the dip to “lower sales of hardware and software of the PlayStation 3 and PSP,” though added the decline was “partially offset by the sales of the PlayStation Vita since it launched in Japan December 2011.”

Furthermore, operating cost for Sony’s game division decreased due to the “decrease in sales of PS3 software and PSP hardware.” As such, the sector recorded a year-on-year decrease of 29.2 billion yen in operating cost to 4.6 billion yen.

Sony has called a PlayStation Meeting on February 20 in New York City, where it is expected the platform holder will unveil its next-generation home console, codenamed Orbis.

Stay tuned.

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