Sony has released its Q3 financials, revealing a sharp drop in profits from its games division as we near the end of this console cycle.
It's traditionally been the electronics sector that has caused Sony the biggest headaches as it struggles to compete with Apple and Samsung, but the traditionally well-performing games division is flagging as well - hardly a surprise at this point in the PSP and PlayStation 3's life cycle. Sales were down 15.1% on last year, which resulted in an 86.4% decrease in profits, but changes in currency values softened the blow as the dollar, euro and pound strengthened against the yen.
"Overall segment sales decreased significantly due to lower sales of hardware and software of the PS3 and PSP, partially offset by the sales of the PlayStation Vita introduced in December 2011," reads the report. "Primarily due to the lowering of the annual unit sales forecast for portable hardware, sales and operating income are expected to be lower than the November forecast... Sales and operating income are expected to decrease significantly year-on-year."
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