Sony Game Business Sales Down 18 Percent

Electronics giant Sony has released its quarterly financial earnings. Like most corporations operating in this sluggish global economy, Sony sales are down.

According to a report issued by the company, "Game business sales and operating revenue declined 18.0 percent year on year, to ¥1,053.1 billion."

One of the main causes of the hardware sales decrease was the high appreciation of the yen, stated Sony.

Sony, however, did post an operating loss of ¥58.5 billion — an improvement of ¥66.1 billion. The cause of these lower operating losses were hardware cost reductions as well as increased software sales.

"We are all firmly committed to leading Sony with the innovative spirit that is embedded in its DNA," read a written statement from Sony Chairman, CEO and President Howard Stringer. "It is a privilege to fight for a great company like Sony, and with the seriousness of purpose that this management team possesses, I know we can succeed in making Sony greater than ever."

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Comments

    $700 for a PS3?

    well there is your first problem Sony!

    Lol I like this, they have cut losses through hardware cost reductions, apparently the hardware was too expensive, but they are failing to sell consoles not because of the cost, but because "Oops it was the Yen's fault, not ours"

      What that doesn't even make any sense... if the yen appreciates and they continue to sell the PS3 to retailers at the same price then they will lose profit. (Won't make any sense if prices fluctuate with the exhange rates.)
      If you don't know anything, then GTFO.

    Why don't they blame their poor marketing schemes, late sales, expensive console and less appealing games.

    Oh yeah and that Sony never deliver on their promises. PSP was the worst console I have owned. Such a shame as the PS2 were some of the happiest gaming times I ever had.

    The PS3 isn't the kind of console

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