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Things are looking up for Sony, thanks to PS4

Sony made a 89bn yen or £500m profit for the third quarter ending 31st December 2014. That's up from a 26.4bn yen or £148m profit during the same period last year, all thanks to PlayStation 4.

The new machine made an impressive 27.6bn yen or £155m profit for the quarter, which is made up of 6.4m PlayStation 4 units shipped and 147m games sold for the quarter.

On the downside, PlayStation 3 hardware and games sales decreased, although combined sales of PSP and PS Vita were actually 1.4m up for the quarter.

At the end of the financial year, Sony's Game and Network Services division expects an operating income of 40bn yen or £225m. It is also expecting to have sold 17.5m PS4 and PS3 console sales combined, and 420m games.

It's not all good news though as Sony as a whole expects to post a net loss of 170bn yen or £955m due to the performance of its smartphone and movie businesses.

Still, things are looking up.

Edited On 04 Feb, 2015

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