Sony forecasts yearly loss of ¥220 billion

02 Feb 2012 at 10:06:01 by John Robertson

Sony has forecast a lost of ¥220 billion ($2.9 billion) for its current financial year. The previous estimate had been ¥90 billion. It will be the fourth year in succession that the company has made a loss.

The new estimate comes as Sony's Consumer Products and Services division, which includes the PlayStation departments, has made a loss of ¥85.7 billion ($1.09 billion) for the third quarter. The same period last year saw a profit of ¥63.5 billion.

A year-on-year reduction in total sales of 24% is what Sony is blaming the loss on, that reduction the result of the PlayStation 3's retail price drop. A decline in the sale of LCD TVs and unfavourable exchange rates has not helped either.

In the third quarter Sony sold 66.2 million PS3 games, 2.5 million on PS2 and 11.4 million on PSP.

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