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Sony Posts Game Division Rise, Predicts 15 Million PS3 Sales In FY2011

Sony Posts Game Division Rise, Predicts 15 Million PS3 Sales In FY2011

February 3, 2011 | By Mike Rose

February 3, 2011 | By Mike Rose
More: Console/PC

Sony's Network Products and Services division, which houses PlayStation, saw profits of 45.7 billion ($564 million) for the third quarter of fiscal 2010 ended December 31, up 135 percent on the prior year.

Revenue took a hit, down 6.4 percent to 566.6 billion ($7 billion) compared to 605.5 billion ($7.4 billion) in 2009. The manufacturer noted that this drop "was mainly due to a decrease in sales in the game business resulting primarily from unfavorable foreign exchange rates."

Regarding the increased profits for the third quarter, Sony cited "significant cost reductions of PlayStation 3 hardware and higher unit sales of PS3 software" as a notable factor. Sony expects PS3 to sell 15 million units in the current fiscal year, versus 13 million in 2009.

PlayStation Portable is expected to sell 8 million units compared to 9.9 million last year, while the PlayStation 2 is expected to drop from 7.3 million to 6 million.

Sony Computer Entertainment president Kaz Hirai said back in December than he expected the company to turn over a profit of nearly double this fiscal year.

He also predicted that Sony would continue to see growth in its games division, with expected PSN sales of $300 billion yen (about $3.6 billion) in fiscal 2012.

These figures are a stark contrast to Sony's operating losses of 30 billion ($338 million) for its gaming division just two years prior.

Total company revenues for fiscal 2010 were down 1.4 percent to 2.2 trillion ($27.2 billion), while profits were down 8.6 percent for the quarter to 72.08 billion ($882.9 million).

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