Sony reports operating loss of JPY 18 billion
Third quarter results sees declines in games, electronics, financial and pictures
Sony has blamed the appreciation of the yen, price competition and the global economic slowdown for a JPY 18 billion loss (USD 197 million) for the third quarter ended December 31, 2008.
For the same period in 2007, the company recorded a profit JPY 236.2 billion.
Sales across Sony's electronics division decreased 29.3 per cent year-on-year to JPY 1.462 billion (USD 16,067 million), a loss of JPY 15.9 billion (USD 175 million). Sales of digital cameras, video cameras and Viao PCs fell, although Blu-ray players were the divisions success story.
The company's Sony Ericsson division saw a loss of EUR 183 million, down 23 per cent to EUR 2.9 billion. Shipments and sales for mid to high end phones were down, said Sony.
Sales for Sony's game segment were down 32.2 per cent, as detailed here. Hardware sales across all PlayStation brands were down, with only PS3 software sales increasing.
Sony Pictures recorded an operating income of JPY 12.9 billion (USD 142 million), with sales down 21.8 per cent compared to the same period for the prior year. Quantum of Solace, Hancock and Step Brothers were notable hits, but television sales were down.
Financial services reported a loss of JPY 37.4 billion (USD 411 million), down 24.1 per cent, due to a decrease in revenue from Sony Life.
All other divisions saw a sales gain of 106.8 per cent, to JPY 24.5 billion (USD 269 million), as the company completed its acquisition of Sony BMG, now Sony Music Entertainment.