Sony is still losing money, PS Vita props up gaming division

Sony’s strong game division sees a drop in revenue, but still in the black

Jeremy ProomeFebruary 7, 2013

Sony has revealed its company numbers in the Japanese firm’s 2012 third quarter financial report (1 October 2012 to 31 December 2012). Overall, the electronics giant has recovered somewhat from the previous year’s dismal results, but it’s still not looking good.

Operating income of 46.4 billion yen (534 million U.S. dollars) was recorded, compared to an operating loss of 91.7 billion yen in the same quarter of the previous fiscal year.

However, after paying income taxes and stockholders, the company recorded a net loss of 10.8 billion yen (124 billion US dollars).

Over in the gaming division of Sony, operating income decreased 29.2 billion yen year-on-year to 4.6 billion yen (53 million U.S. dollars). This decrease was primarily due to lower sales of hardware and software of the PlayStation 3 and PSP, partially offset by the sales of the PlayStation Vita introduced in December 2011.

Sales in the gaming division were down 15.1 percent from the same period in 2011, possibly due to the PS3 and PSP coming to the end of their life cycles.

Sony’s overall research and development expenditure increased significantly in Q3 2012, presumably some of which has going toward the development of the inevitable Playstation 4.

Sony is expected to unveil the PlayStation 4 on 20 February 2013 at a special PlayStation event.