Sony Revenues Up, Games Division Suffers
by October 25, 2007 @ 10:14 am
While things are looking up for Sony as a whole thanks to its involvement in other markets, the company’s gaming division is performing short of expectations.
According to second quarter financial results that ended in September, Sony saw a 43 percent increase in video game related sales over last year, while incurring an operating loss of 96.7 billion yen ($867 million).
Sony is blaming the losses on the “strategic pricing of PS3 at points lower than its production cost and the increase in PS3-related inventory write-downs recorded during the current quarter compared to the same quarter of the previous year.”
Financial Results [Sony]
Follow this author on Twitter.
