Sony Suffers Profit Loss

Despite PlayStation 3 sales up, Sony’s profit down 72%. Sony reported from Tokyo, a quarterly profit decreased of 72%. Even though PlayStation 3 sales doubled compare to last year this time. The company said it sold 2.43 million PlayStation 3 consoles during the quarter, an increase of 86% over the same period a year ago.

Sony said Wednesday it posted a net profit of 20.8 billion yen ($214 million) for the July-September period compared with 73.7 billion yen a year earlier. Sales in the fiscal second quarter slipped 0.5 percent to 2.072 trillion yen ($21.4 billion).

Sony makes about 80 percent of its sales overseas and is vulnerable to fluctuations in exchange rates. A rising yen erodes the overseas profits when converted into the Japanese currency.

“We already expect a poor performance for the Christmas shopping season,” Chief Financial Officer Nobuyuki Oneda told reporters. “On how things will fare after Christmas, I can only say we will continue to keep a careful look.”

Interesting news is PlayStation 2 out sold PlayStation 3 in the market. Still PlayStation 2 is much popular in countries like India, Russia. Many low budget titles are still released for PlayStation 2.

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