Sony Sees Gaming Losses Growing in 2007
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TOKYO -- Price cuts for the PlayStation 3 video game console are among the factors Sony is studying as it seeks to break even in its money-losing gaming business next fiscal year, a company executive said Wednesday.
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Sony said its profit rose in the final three months of 2007, aided by robust sales of televisions and computer games.
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'Within our reach' to sell 6m by April 2007, prez states Sony's plan to ship 2m PlayStation 3 consoles worldwide by the end of the year and a further 4m PS3s by the end of March 2007 is still "within our reach", company President Ryoji Chubachi told reporters this week.â¦
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Sony Corp.&#39;s (6758.T) game unit said on  Thursday it plans to cut jobs in the United States, but the  scale and timing of the cut have not been decided.
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Blog: Sony Computer Entertainment's CEO and president Kaz Hirai has confirmed that the PS3 price cut isn't going to last.
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Video games for next generation games consoles are unlikely to make a profit in the near future, a report says.
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TOKYO -- A recovery in electronics sales offset losses in video games and helped boost Sony's profit for the July-to-September quarter more than 40-fold over the same period a year ago.
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Just when Sony appears to have turned around its electronics business, another part of its sprawling empire &#151; video games &#151; is dragging down profits.
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U.S. video game industry sales growth is expected to slow in 2008 as accelerated demand for software is tempered by a decline in hardware revenue, the Consumer Electronics Association said on Saturday.
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Sony Corp. said profit from sales of home electronic products won&#39;t improve next quarter because of falling prices for flat-panel televisions and slumping demand for audio products.
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(InfoWorld) - Sony's core electronics business more than doubled profits in the last quarter of 2006, but failed to offset price cuts to itsÂ PlayStation 3 game console, leading to an overall profit decline of just over 5 percent, the company said Tuesday. The company said sales and operating revenue increased 9.8 percent to Â¥2.6 trillion ($21.4 billion) while net profit fell 5.3 percent to Â¥159.9 billion. Sony Computer Entertainment, the division responsible for its PlayStation gaming consoles, was the only one of Sony's main business units that registered a loss in the quarter. It lost Â¥54.2 billion primarily due to the retail price of the more expensive of the two consoles being reduced from a planned Â¥62,790 to Â¥49,980 in Japan. The cut was made, Sony said, due to negative feedback from consumers. Sony's electronics business saw profits more than double to Â¥177.4 billion on 16.9 percent higher sales of Â¥1.9 trillion, the company said. The unit had a generally positive quarter with sales of Bravia LCD (liquid crystal display) televisions and Cybershot digital still cameras increasing. Europe saw the biggest percentage sales jump, up 21 percent, thanks to better LCD TV and Vaio PC sales, while tough competition in the U.S. TV market meant sales there increased by just 3 percent. Sony Pictures returned to profitability as sales there jumped 47 percent, but sales in the financial services division fell 9 percent. Underlining the generally positive results, Sony revised its full-year profit forecast upward for the year to the end of March. It now expects to record a net profit of Â¥110 billion for the year, up from its previous forecast of Â¥80 billion, although still lower than the Â¥124 billion it reported last year. The sales forecast was left unchanged. Sony's mid-term business plan has targeted a profit margin of 5 percent for the coming fiscal year. Sony's electronics business is already meeting its part of the target and will continue to do so next year however the games unit needs to improve, Sony's chief financial officer Nobuyuki Oneda said at a Tokyo news conference on Tuesday. He expects to bring the company's games unit closer to break-even in the second half, he said. Sony will target cost savings in the PlayStation 3 by introducing more advanced chips and consolidating components to reduce the overall number of parts, he said. The company is already on the way to the first of these targets, with the recent start of production of a new version of the Cell processor built with a 65-nanometer production process. The chip in current consoles is built using a 90-nanometer process and the upcoming switch will mean a chip that is 40 percent smaller. Costs will fall in line with the size reduction, Sony said. It did not say when the new chip will appear in consoles. Sony wouldn't provide anyÂ PlayStation 3 shipment estimatesÂ for the coming financial year but said it remains confident it will ship 6 million consoles up to March. It also revised upwards its PlayStation 2 shipment forecast from 11 million units to 13 million units. Sony counts shipments as finished consoles leaving its factory for Sony warehouses and distributors. Oneda ruled out the possibility of further price cuts in the near future, but hinted that this could happen in two or three years' time. Â
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Strong sales and lower production costs should boost Sony's take on game console, exec says.
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Sony dropped the price on its PlayStation 3 in July - from $599 to $499 for its 60-gigabyte model - and got a bump in sales, but Nintendo&#39;s Wii continued to dominate by posting its largest monthly sales figure of 2007.
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DVD sales might have  slipped in 2007, but another key segment of the home  entertainment market had a banner year: video games.
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Sony Corp. said Friday it will lower the price of its much-anticipated PlayStation 3 video game console, heating up the competition in the next-generation gaming war against rivals Microsoft and Nintendo.
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Sony's PS3 price cut may not be quite what it seems.
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Electronic Arts Inc.'s   outgoing chief executive Larry Probst said on Monday the  world's biggest video game publisher expects Sony Corp.'s  dominance over the console market to slip in the current  hardware war.