Sony Q2 Financials: PS3 Up, Corporation Way Down
Sony's Q2 financial report makes for interesting reading if you're into that sort of thing (and enjoy sifting through several sprawling pages of data), but for your convenience, we've put together a highlights reel. Strong worldwide console sales have closed the gap between the PS3 and Xbox 360 to it's lowest ever level - and software sales are on the rise - but the company has still reported major losses thanks to a number of factors. We've got the details after the break.
After August's PS3 price cut and an aggressive exclusive release schedule, PS3 sales clocked in at 1.7 million in Q2, which is up 200,000 units. In total, this brings PS3 sales figures to 55.5 million... compared to the Xbox 360's grand total of 57.6 million. The gap stands at a paltry 2 million consoles, with weak US sales bolstered by chart-topping success in Europe and Japan. It will be interesting to see whether this gap closes yet further over the Christmas period, or even whether Sony can hope to overtake their major rival before the next-generation Xbox hits the shelves.
PS3 software sales also increased from 35.3 million to 37.4 million (you've got to love those exclusives), while the PSP enjoyed improved console success but a major decrease in games sales. With the Vita on the horizon, that's probably to be expected.
You might therefore believe that Sony are in an overwhelmingly strong financial position, but their Consumer Products & Services Division (of which PlayStation is a part) recorded a loss of £293 million. This has been attributed to the strong Yen compared to other currencies and a major decrease in LCD/3D television sales. Sony also make an extremely small profit margin from each PS3 console due to the summer price cut.
In total, Sony has recorded a loss of -£13 million, which is a staggering decrease from 2010's £549 million profit. As competing hardware manufacturers continually cut into their earnings from portable music devices, televisions and consumer electronics, the following months could well herald a shift in focus. On the other hand, Christmas... and the PS Vita... are coming soon.