Sony Losses Decrease for Holiday Quarter, Game Sales Down - News/ 4,273 Views
Sony has released its financial report for the quarter ending December 31, 2013. Sony as a whole improved by quite a bit year-over-year. Revenue for quarter increased 6.9 percent to 1.95 trillion Yen ($21 billion). Losses dropped by to 10.8 billion Yen ($115 million), much lower than the 159 billion Yen in losses a year ago.
Despite the company moving in the right direction the game division saw lower revenue and profits. Mainly due to the decrease in hardware and software sales. Revenue for the quarter dropped 15 percent to 268.5 billion Yen ($2.9 billion), from 316.1 billion Yen. Profits fell 86 percent from 33.8 billion Yen a year ago to 4.6 billion Yen ($49 million).
Combined sales of the PlayStation 2 and PlayStation 3 reached 6.8 million, which is down from 7.4 million. However, Sony did stop production of the PlayStation 2 in at the end of quarter. Sony still expects combined sales of 16 million units for the full fiscal year which ends March 31, 2013. This would be a two million drop when compared to the previous year. Retail game sales dropped to 61.7 million units, from 68.7 million units a year ago.
Sony also combined its PSP and PlayStation Vita sales. Sales increased to 2.7 million units, up from 2.4 million units a year ago. However this is not what Sony had hoped for, as it cut its full year forecast to seven million units, down from 10 million units. Retail game sales dropped to 8.9 million units, from 11.4 million units a year ago.