Sony Financials in a Bad State - PS3 Sales Down
Look away everybody, it's all going well, don't worry about Sony
Sony PlayStation sale... dismal
Sony has released its financials for the year 2011/2012. You'd think simply by looking at the figures that things are pretty bloody awful - they are but there are reasons. For the year to March 31st 2012 the company made a loss of 67.3 billion yen compared with a profit of 199.9 billion in the previous year.
Add to that the fact that PS3 sales are down too and you've got to doubt that Sir Howard Stringer will be appointed Chairman of the Board on June 27th.
In terms of our interest, Sony states that, "The decrease in the game business reflects lower sales of PlayStation3 hardware due to a strategic price reduction and lower sales of PlayStation2 due to platform migration."
You can see the relative sales in Sony detail in the image illustrating this story. In short., however: in 2010/2011 14.3 million PS3s were sold compared to 13.9 million in the year 2011/2012 (ending March 31st). In terms of PSP, as broken down by Sony, 6.8 million were sold this term compared with 8million in the previous period.
Software sales - which with declining hardware sales due to saturating markets, can often rise - did rise. This period for PS3 saw 156.6 million units sold compared with 147.9 million units in the previous period. For PSP this trend was reversed, however, with 32.2m units this time around compared with 46.6m last time.
Overall the company's fortunes mirrored its gaming.
The horse's mouth states, "Sales were 6,493.2 billion yen (79,186 million U.S. dollars), a decrease of 9.6% compared to the previous fiscal year (“year-on-year”)."
This, as usual it seems was caused, "primarily due to unfavorable foreign exchange rates, the impact of the Great East Japan Earthquake (the “Earthquake”) and the floods in Thailand (the “Floods”), and deterioration in market conditions in developed countries."
The gloom continues, "Operating loss of 67.3 billion yen (820 million U.S. dollars) was recorded, compared to operating income of 199.8 billion yen in the previous fiscal year.
"This was primarily due to lower sales resulting from the above-mentioned factors and a significant deterioration in equity in net income (loss) of affiliated companies, partially offset by a remeasurement gain associated with obtaining control of SOMC (basically Sony Ericsson) of 102.3 billion yen (1,248 million U.S. dollars)."
If you want to have fun with maths, "U.S. dollar amounts have been translated from yen, for convenience only, at the rate of 82 yen =1 U.S. dollar, the approximate Tokyo foreign exchange market rate as of March 31, 2012" says Sony.
Source: Sony
Add to that the fact that PS3 sales are down too and you've got to doubt that Sir Howard Stringer will be appointed Chairman of the Board on June 27th.
In terms of our interest, Sony states that, "The decrease in the game business reflects lower sales of PlayStation3 hardware due to a strategic price reduction and lower sales of PlayStation2 due to platform migration."
You can see the relative sales in Sony detail in the image illustrating this story. In short., however: in 2010/2011 14.3 million PS3s were sold compared to 13.9 million in the year 2011/2012 (ending March 31st). In terms of PSP, as broken down by Sony, 6.8 million were sold this term compared with 8million in the previous period.
Software sales - which with declining hardware sales due to saturating markets, can often rise - did rise. This period for PS3 saw 156.6 million units sold compared with 147.9 million units in the previous period. For PSP this trend was reversed, however, with 32.2m units this time around compared with 46.6m last time.
Overall the company's fortunes mirrored its gaming.
The horse's mouth states, "Sales were 6,493.2 billion yen (79,186 million U.S. dollars), a decrease of 9.6% compared to the previous fiscal year (“year-on-year”)."
This, as usual it seems was caused, "primarily due to unfavorable foreign exchange rates, the impact of the Great East Japan Earthquake (the “Earthquake”) and the floods in Thailand (the “Floods”), and deterioration in market conditions in developed countries."
The gloom continues, "Operating loss of 67.3 billion yen (820 million U.S. dollars) was recorded, compared to operating income of 199.8 billion yen in the previous fiscal year.
"This was primarily due to lower sales resulting from the above-mentioned factors and a significant deterioration in equity in net income (loss) of affiliated companies, partially offset by a remeasurement gain associated with obtaining control of SOMC (basically Sony Ericsson) of 102.3 billion yen (1,248 million U.S. dollars)."
If you want to have fun with maths, "U.S. dollar amounts have been translated from yen, for convenience only, at the rate of 82 yen =1 U.S. dollar, the approximate Tokyo foreign exchange market rate as of March 31, 2012" says Sony.
Source: Sony
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