Sony posts losses, PS3 price to blame

This year hasn’t been too great for Sony, especially for their Consumer Products & Services division. The company recently posted results for their second quarter and there’s a significant drop in profits. The Consumers Products & Services division is also home to the PlayStation line of products. Earlier in the year, there was the whole PSN hacking fiasco. Recently however, Sony had announced price cuts for the popular PlayStation 3 console. Gamasutra reports that there’s also a noticeable drop in the number of video game sales. Sales of LCD televisions and losses have been incurred due to foreign exchange rates as well. Sales of the console itself have been good - some 3.7 million were sold in this quarter as compared to 3.5 million last year. 

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The same trend can be seen with the PlayStation Portable console, where 1.7 million pieces were sold this quarter as compared to last year’s quarter sales of 1.5 million. PlayStation 2 sales dropped drastically, though. This could indirectly be due to the big PlayStation 3 price cuts. Sony has recorded a drop in revenue for this quarter of some 9.1 percent. The PlayStation 3 currently sells for Rs.16,990 for the 160GB version.

Published Date: Nov 05, 2011 11:55 am | Updated Date: Nov 05, 2011 11:55 am