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Sony reveals £1.3 billion loss in Q3 financial results

Sony made a £1.3 billion loss during October to December 2011, most of which has been blamed on the “unfavourable foreign exchange rate” and the devastating floods in Thailand.

This loss was made despite the company receiving $23 billion in revenue for the quarter. As a result of the poor quarter, Sony has now increased its full year forecast from ¥90 billion to ¥220 billion ($2.9 billion).

Breaking it down into divisions, Sony’s Consumer Products and Services division made a loss ($1.09 billion) for the quarter. Sony blames this mainly on the PlayStation 3 price cut and ‘above expectations’ marketing costs. The division was also affected by the floods in Thailand.

Interestingly Sony revealed that 6.5 million PS3s were sold in the third quarter, which puts the PS3 at a total of 12 million for the year. Sony had forecast 14 million PS3′s for the full year ending this March, so it seems to be well on track to achieve this goal.

Sony’s grand total for PS3 now stands at 62 million, in comparison Xbox 360 currently stands at 64 million.

Sony this week announced that PlayStation boss Kaz Hirai CEO will now become president of the company, replacing Sir Howard Stringer from 1st April.

Edited On 02 Feb, 2012

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