Thursday, July 30

Sony posts net loss of $390 million, PS3, PSP sales slump

Wow, this economy is really putting the damper on all in it’s path, and that include the maker of the popular PS3, PSP, and PS2. Sony’s network products which includes the Playstation brands posted a steep loss of 39.7 billion yen, that compared to a profit of 4.6 billion yen last year. The electronics giant said in a statement the losses came because of lower software sales and a much stronger yen.

Indeed, 2009 has been a rough year for all Console makers. Even the unstoppable Nintendo saw a massive decline of 61 percent in quarterly net income, lead by a drop in sales of the Wii. Here’s a breakdown of sales for the Playstation brands:

Playstation 3: 1.1 million, down 31 percent

Playstation Portatble: 1.3 million, down a whopping 65 percent.

Playstation 2: 1.6 million, up from 1.5 million fiscal year 2008.

Yes, the only Platform that saw slight growth was, wait for it, the 9year old PS2. Who would’ve thought in 2009 the PS2 would outsell the PS3; this is really something to behold. On the bright side, the company beat analysts estimates, who predicted a loss of 80 billion yen, in part due to higher profits from financial services.

As I stated earlier, the global recession is having damaging effects on companies all across the board. Big and small, not one will come out unscathed. And before it’s done, Sony will be a leaner, meaner, more profitable Company.

07/30/09 Ernice Gilbert

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