Sony game group down $2 billion

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Impostorzim
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Sony game group down $2 billion

Post by Impostorzim » Wed May 16, 2007 21:26

Some customers might think the Playstation 3's $599 retail price is high, but thats chump change considering what the machine is costing Sony. The electronics giant today posted its financial results for the fiscal year and fourth quarter ended March 31, and as analysists predicted, the game division racked up significant losses.

For the fourth quarter alone, Sony reported an operating loss of $914 million from its gaming division, attributable primarily to the PS3. Sony's new machine was also responsible for a bump in gross revenue, as the company's gaming segment racked up sales of $2.4 billion and helped push company-wide sales to $17.7 billion, up 12.6% from the previous fourth quarter.

The full-year picture for Sony's gaming division was similarly grim, with the PS3 driving an increase in revenue, as well as operating losses. For its full fiscal year 2006, Sony's gaming group posted revenue up 6.1% to $8.6 billion, but suffered an operating loss of nearly $2 billion.

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...ouch? Anyone?
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Post by Darth Urra » Wed May 16, 2007 21:28

HA!

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Post by GmFrk13 » Thu May 17, 2007 01:04

i fart in their general direction!!
WTFuck!?!?!

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Post by suna_suna » Thu May 17, 2007 05:29

i'd buy one. and besides, there profit is still aroun 6 billion
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Post by mongoose_01 » Thu May 17, 2007 16:40

aww everyone's so harsh to sony! I dont feel sorry for them, seeing as they're still bloody rich, but it's still people's livelihoods were talking about here...
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Post by Saladin » Thu May 17, 2007 18:37

mongoose_01 wrote:aww everyone's so harsh to sony! I dont feel sorry for them, seeing as they're still bloody rich, but it's still people's livelihoods were talking about here...
Actually, they're really not doing so hot right now. The PS3 was kind of their last hope, they've been seeing massive losses on all fronts. I'm not sure if this statistic is correct, but I remember seeing an article saying that in 2006 they lost 97% of their revenue because of a recall of products they had to do. They're in for some rough times.
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Post by Gordon Frohman » Thu May 17, 2007 21:13

Saladin wrote:
mongoose_01 wrote:aww everyone's so harsh to sony! I dont feel sorry for them, seeing as they're still bloody rich, but it's still people's livelihoods were talking about here...
Actually, they're really not doing so hot right now. The PS3 was kind of their last hope, they've been seeing massive losses on all fronts. I'm not sure if this statistic is correct, but I remember seeing an article saying that in 2006 they lost 97% of their revenue because of a recall of products they had to do. They're in for some rough times.
...which means for every PS3 they sell, they lose money.
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Post by Chapstick » Thu May 17, 2007 21:21

Yeah, but we see that with every company that releases a game console (except maybe Nintendo).

The same thing happened with Microsoft and the 360. I believe they're only now starting to make a profit.
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Post by Impostorzim » Fri May 18, 2007 02:05

Gamespot has notified that Sony can pray for better results around the corner, but they will still lose significantly for some time.
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Post by Paul » Fri May 18, 2007 13:38

This isn't unexpected. Sony knew they would have to take a hit to try and compete with Microsoft.

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