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Sony Gaming Business Revenues Drop As PS3 Sales Decline
Sony Gaming Business Revenues Drop As PS3 Sales Decline
July 28, 2011 | By Mike Rose

Sony has posted its financial results for the first fiscal quarter ended June 30, noting a drop in revenue in its gaming business.

The company reported fiscal Q1 revenues from game hardware, software and online services of $1.5 billion, an 11.9 percent decline from the same period a year prior.

Revenues were down in the games business as unit sales of Sony's flagship PlayStation 3 console declined to 1.8 million for the quarter, compared to 2.4 million units for the comparable quarter a year ago.

The company expects the total number of PlayStation 3 units sold this fiscal year to be 15 million, up from 14.3 million last year.

The PSP sold 1.8 million units during fiscal Q1, up from 1.2 million last year, and is expected to sell 6 million in total this fiscal year, compared to last year's 8 million sold.

The PlayStation 2 sold 1.4 million units during the quarter, down slightly from 1.6 million units year-on-year, and is forecast to sell 4 million units this year, down from 6.4 million year-on-year.

Moving to software sales, the PlayStation 3 saw games sales increase, while PSP and PS2 both declined.

PS3 software sales were 26.1 million for the first quarter, compared to 24.8 million in the previous fiscal year. PSP game sales were 6.6 million, down from 9.2 million, while PS2 software sales were 1.5 million, down from 3.4 million.

All three consoles are projected to see approximately the same number of software units sales compared to the last fiscal year, at 210 million units sold across all platforms this year.

The consumer products and services division, which houses Sony Computer Entertainment, TV, audio and other businesses, saw revenues of $9 billion, down 18 percent year-on-year.

Overall, the company as a whole saw quarterly revenue decline to $18.5 billion, a decrease of 10 percent from $21.4 billion in the same quarter of the previous fiscal year.

Sony also posted a total loss of $191 million, compared to profits of $330 million in the first quarter of the last fiscal year. The company attributed declines to the catastrophic earthquake that occurred earlier this year.

The company has now lowered its financial forecast for rest of the fiscal year, down to $771.78 million from the $1 billion profit estimate it gave in May.

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Alan Rimkeit
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Is it time for a massive price cut maybe? I think so. A price cut is the only thing I can see to have PS3 sales increase with any significance.

Kelly Johnson
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It's not the actual console that makes the difference, it's what is available through the console and the Xbox has just been superior since day one. I have had both consoles since they came on the market and the PS3 is basically used for Blu Ray and now that Netflix has risen it's prices on discs I won't be getting Blu Ray discs so my PS3 will have little use. Sony is so inept that they were unable to make it possible for me to change my password(which I had forgotten). I was told to just create a new account. I can't even log out of the PSN. If you have auto-sign in you can not log yourself out and it is not possible to make changes to ones account because it requires a one's password so even though I am signed in I can not make any changes to my account and I can not sign out. Ridiculous.

Alan Rimkeit
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You can't change your password? That is weird, because I have changed my PSN password multiple times. And how is the 360 superior? They both have many of the same games, they are both about as powerful as each other, and their networks(Live and PSN) are both pretty much the same except for a few features and the cost of Live.

I think that they are closer than you may think.

Kevin Patterson
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It depends on the types of games you play really. I don't have a PS3, though I have desired to play Uncharted, Resistance, Infamous, Twisted Metal, etc. The PS3 has some great games but I mostly play RPG's, and I'm a fan of the Halo series, Rare's games, and the controller, so the 360 was the obvious choice. I'm not a God of War or metal Gear fan so that makes a difference as well.

kspray dad
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Mark dogg
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Yes PS3 had bad Q1 2011 compared to last year Q1. But they are still ahead of 360 and Wii.

Having said that they need to have better sales to reach their target of 15million for this FY