Sony Consumer Products Division Post $1bn Quarterly Loss
Blame placed on increasing network costs and PS3 price cut.
It's probably a good thing that Howard Stringer stepped down as Sony CEO yesterday - the Japanese giant, once a dominant force in consumer electronics, has just posted its quarterly financials. And it's not looking good - its Consumer Products & Services division suffered a loss of $1.009 billion for the quarter ending 31st December 2011.
The division in particular looks after Sony's PlayStation and PlayStation Network businesses. Overall sales figures hit $12.776 billion - a fall of about 25 per cent. The reason for this? Take your pick: a "bad yen" (tell that to my wallet whilst in Tokyo last year); increased costs of network services; PS3 price cut; poor sales of LCD TVs.
Of course, past years have seen Sony struggle to maintain its market-leading position in consumer technology. Cameras, storage, TVs, PlayStation Network... all being challenged quite heavily by rival companies. And in many cases, succeeding.
Overall, Sony posted revenues of $23.37 billion for the quarter and an operating loss of $1.176 billion.
The division in particular looks after Sony's PlayStation and PlayStation Network businesses. Overall sales figures hit $12.776 billion - a fall of about 25 per cent. The reason for this? Take your pick: a "bad yen" (tell that to my wallet whilst in Tokyo last year); increased costs of network services; PS3 price cut; poor sales of LCD TVs.
Of course, past years have seen Sony struggle to maintain its market-leading position in consumer technology. Cameras, storage, TVs, PlayStation Network... all being challenged quite heavily by rival companies. And in many cases, succeeding.
Overall, Sony posted revenues of $23.37 billion for the quarter and an operating loss of $1.176 billion.
Companies:
Sony
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