Sony posts Q2 loss on back of PS4 costs and PS Vita price cut
- Posted October 31st, 2013 at 11:13 EDT by Michael Harradence
PlayStation 4 development costs as well as a price cut for PlayStation Vita have resulted in Sony’s games division posting a loss of roughly $8 million for Q2 2014.
The hardware giant also confirmed that sales of PS3, PS2 and PSP hardware are in decline, though the losses have been somewhat offset by the rise in software sales.
Overall, Sony posted revenue of $1.6 billion for the three months July - September 2013, representing a year-on-year increase of around five per cent. This accounts for nine per cent of Sony’s overall business
However, the conglomerate announced that it has reduced its full-year profit forecast to $300 million, which is a drop of 40 per cent.
In total, Sony Corp generated $18.1 billion, posting a loss of 25 per cent to approximately $200 million.
The company will launch PS4 in the U.S. on November 15 and in Europe and the U.K. on November 29.