Sony’s Consumer Products and Services Division Hit With $1b Q3 Operating Loss
Sony reported today that their Consumer Products and Service Division, which houses their PlayStation business, took a ¥85.7 billion ($1.099 billion) loss for the third quarter ended December 31, 2011. This is down drastically from the same period last year where the division recorded a ¥63.5 billion operating income.
The primary cause for the decline was cited as being a worldwide decrease in LCD televisions sales combined with higher video game marketing costs and lower revenues from the sales of PlayStation 3 consoles due to the price reduction.
For the company as a whole things did not look any better, with Sony recording a net loss of ¥159 billion ($2 billion), down from a profit of ¥72.3 billion during the same quarter in the prior year. Sony is now forecasting that they will have a full fiscal year loss of ¥220 billion ($2.9 billion).
During the third quarter Sony shipped 6.5 million PlayStation 3 consoles, 2.4 million PSP handhelds, and 900K PlayStation 2 systems. Software sales for the PS3, PSP, and PS2 totalled 66.2m, 11.4m, and 2.5m respectively.
Source: Sony Earnings Report, Sony Slides
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