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Sony's Q3 results are pretty bleak

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

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.

Comments

princevegeta1980
- 4:59am EST - February 7th, 2013
- 1
Don't think PS3 sells will get better with a new consol but maybe sells for the Vita will pick up with Killzone!
PS3-The Ultimate Machine
- 1:45pm EST - February 8th, 2013
- 2
Expect ps3 to sell better this year with more and more value added bundles, we already have bundles for GoW Ascension, then there's the Last Of Us, Beyond two souls and probably a price cut for the super slim on the cards. Though overall I think the gaming industry really needs that shot in the arm of new technology, 20th february can't get here soon enough.