Feb 2, 2012

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Sony Expecting More Losses by End of Fiscal Year

Sony Expecting More Losses by End of Fiscal Year

In an announcement today, Sony made available their financial earnings for the third quarter ending December 11, 2011. Sony reported a decrease of 17.4 percent from the same quarter last fiscal year. Overall Sony Corperation had a $23.9 billion in sales, but posted a net loss of $2.09 Billion.

In the Consumer Products and Services division, where the PlayStation brand is housed, sales had decreased 24 percent.  That is a loss of about $13 billion.  Sales of the the PS2 and PSP are also down, though sales of the PS3 increased 1.8 million units more during the same quarter last year.  Sony has sold a total of 6.5 million PS3s, 2.4 million PSPs, and 900,00 PS2s during this quarter.

When their fiscal year ends March 31, 2012, they are expecting a net loss of $2.89 billion.  The company is blaming the floods in Thailand and poor exchange rates for the quarter for loss in sales.

[Source: Industry Gamers]