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Sony Posts Profit In PlayStation Division

Sony Posts Profit In PlayStation Division

May 26, 2011 | By Mike Rose

Sony has posted its financial results for the 2010 fiscal year ended March 31, noting that while the company as a whole saw a significant loss, its Networked Products and Services division, which includes PlayStation products, saw an overall increase in profit.

"Significant cost reductions" for PS3 hardware, coupled with an increase in profit from higher software sales, saw the division make a profit last fiscal year compared to a significant loss in the previous fiscal year.

Sales in the PlayStation division -- which also includes Sony's PC business -- were virtually flat at ¥1.58 trillion ($19.3 billion), compared to ¥1.57 trillion ($19.2 billion) year-over-year. But operating income was ¥35.6 billion ($435.5 million) in the segment, a swing to profit from an operating loss of ¥83.3 billion ($1 billion) for the previous fiscal year.

Sales of the PlayStation 3 increased to 14.3 million units, compared to 13 million in the 2009 fiscal year. PSP sales were down to 8 million compared to 9.9 million, while PlayStation 2 sales were down to 6.4 million compared to 7.3 million.

Software sales for both the PlayStation 3 and the PSP increased. The PlayStation 3 shifted 147.9 million software units compared to 115.6 year-over-year, while the PSP sold 46.6 million compared to 44.4 million. The PS2 saw a drop in software sales, down to 16.4 million compared to 35.7 million year-over-year.

Looking to the 2011 fiscal year, Sony estimated that it will see PS3 hardware sales rise to 15 million, while PSP and PS2 sales will fall to 6 million and 4 million, respectively. Software sales are estimated to be approximately the same as the 2010 fiscal year.

Meanwhile, as predicted in revised forecast results earlier this week, Sony across all of its divisions saw an overall decrease in both revenue and profit.

Revenue was down 0.5 percent to ¥7.18 trillion ($87.8 billion) from ¥7.21 trillion ($88.2 billion) in the 2010 fiscal year. The company also saw a net loss of ¥259.6 billion ($3.2 billion), compared to a loss of ¥40.8 billion ($499.1 million) year-over-year.

March's earthquake and tsunamis had a substantial impact on the company, which had to deal with idle factories due to the disaster, life insurance policy payouts and costs to repair damages. Sony said disaster-related expenses will add up to ¥10.9 billion ($131 million), but insurance policies will offset "almost all of these losses and expenses," the company said.

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