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Sony Lowers Expectations for 2012 Vita, PSP Sales

| 1 Nov 2012 14:16
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Sony's PlayStation division saw a 23.3% loss in year-on-year sales for Q2 2012.

Sony has posted its financial results for the second fiscal quarter of 2012, and they're less than ideal. Overall, Sony's net loss was 15.5 billion yen, or $198 million, which is a 42.6% decline from the previous year. The PlayStation division generated 2.3 billion yen ($29 million), down 23.3% from the year before. Though Sony moved 4.9 million PS3 and PS2 systems during the same time period this year, only 3.5 million were sold in Q2 2012. Vita and PSP sales, meanwhile, came in at a combined 1.6 million units sold.

The news isn't all bad, as the $198 million loss is actually an improvement from the previous quarter, when Sony lost $312 million. Sony is still predicting 16 million combined PS3 and PS2 sales by the end of the fiscal year, though the forecast for PSP and Vita sales has been lowered from 16 million to 10 million.

Despite the losses, the report states that "consolidated sales for the quarter increased year-on-year partially due to the consolidation of Sony Mobile, and operating income improved significantly year-on-year." However, "the lowering of the annual unit sales forecast for portable hardware" means that "sales are expected to be lower than the August forecast." Sony is now predicting $83 billion in revenue for the 2012 fiscal year, which ends in March 2013, down from its original estimate of $85 billion.

Source: Engadget via Joystiq

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