Sony’s PlayStation division earns $434 profit after impressive sales of its PlayStation consoles
It seems that its not all not all doom and gloom over at Sony as its PlayStation division posted an impressive $434 in profits for the financial year. In a bitter sweet twist, however, the Sony Corporation could not say the same as they suffered $3.17 billion in losses for the same period.
According to the report released by Sony, the company indicate that their net loss for the year ending the 31st of March, 2011 increased by more than 600% as opposed to last year. It was not a huge shock though, as forecasts predicted the same level of losses for the company.
To be exact, the Sony Corporation made losses in the region of $3.17 billion for this year. Compare that to the $498.59 million from last year and that is a significant increase.
The company’s revenues however, stayed fairly constant at $87.78 billion the current year when compared to the $88.11 billion of the previous year.
According to the report, the PlayStation division did extremely with the sales of its three major gaming consoles earning plenty of revenue. 6.4 million PlayStation 2 consoles, 8 million PlayStation Portables and 14.3 million PlayStation 3 consoles were sold in the period that helped Sony earn a bulk of its revenue.
Only two departments managed to perform well with the Network Products & Services segment aka Sony Computer Entertainment and the Consumer, Professional and Devices segment aka the HDTV department.
They were also the only two departments to have an increase in sales with the Networked Products & Services division having brought in $2.44 billion in revenue.
On the other hand, the recent devastating earthquake that hit Japan was not the major reason for the poor financial performance of the company, though Sony admits it did have an effect. $4.4 billion of the overall loss was down to deferred tax assets in Japan.
Sony may have fallen short on its target of 15 million PlayStation 3 consoles to be sold, but the 14.3 million units figure was not far from the mark as software sales also increased to an impressive 147.9 million games sold in the year.
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