PlayStation Posts Stagnant Financials
The twilight of this console generation is hitting Sony's PlayStation division hard, resulting in a major drop in income, under-performing hardware and another (slightly embarrassing) admission that the Vita is not selling very well at all.
However, it's not all bad news.
As you'd expect at the tail end of a console generation, things are looking rather sluggish for PlayStation. Q3 2012 heralded a 15.5% decline in revenue and an 84% decrease in profits compared to the same period in 2011, which is partly due to the PS3 selling well under expectations. PS2 and PS3 sales clocked in at 6.8 million over the quarter, while console games decreased from 69 million to 62 million units, perhaps due to the dearth of impressive Christmas exclusives.
This pales in comparison to the PS Vita's "slow penetration," though, which is causing problems of its own outside of the increasingly lucrative Japanese territory. Sony has revised their first-year combined Vita and PSP sales down to 7 million consoles worldwide (March 2012-2013) which previously dropped from sixteen to ten over the past few months. It's clear that the Vita needs improved software support, and more than a little extra advertising to flog some more units. Here's hoping that the 2013 software lineup will turn things around for the powerful handheld.
Bad news indeed, but things are looking up. The PlayStation division still managed to make a profit, and while the Sony Corporation logged an overall £74m loss, their optimistic full-year projections remain unchanged at a net profit of £123m. This has been partly attributed to planned asset sell-offs over the coming months, but Sony are doubtlessly banking on their next-gen console to rake in plenty of cash and revitalise software sales. We may get our first look at the PS4 during a press event on February 20th.