Top navigation

Strong PS4 and smartphone sales fail to halt Sony losses

Matthew Jarvis
Strong PS4 and smartphone sales fail to halt Sony losses

Sony has announced a ¥128.4 billion (£0.74bn) net loss for its 2013 fiscal year, despite seeing strong smartphone and PS4 sales.

The loss is said to be a result of the firm’s restructuring, including its exit from the PC market in February, which cost an estimated ¥80 billion (£0.46bn).

Some of the costs of the restricting are expect to affect 2014’s results too, with Sony forecasting a ¥50 billion (£0.29bn) net loss for the next year. The loss will be Sony’s fifth annual loss in the last six years.

While Sony’s losses paint a gloomy picture for the firm, several of the Japanese electronics giant’s divisions have seen success.

The sales of the ‘Game and Network Services’ arm, which includes the PS3 and PS4 games consoles, rose by 38.5 per cent during 2013 – largely thanks to the launch of the PS4.

While the PS4’s initial launch contributed to an operating loss of ¥18.8 billion (£0.11bn), sales of the console are expected to turn the loss into a positive profit gain during 2014.

The mobile division also grew thanks to a “significant” increase in smartphone demand and ASP, Sony added, with sales increasing by 29.6 per cent compared to 2012.

Sales in the home entertainment sector were also up, with the firm particularly praising the performance of “high value-added” television sets.

Advertisement

Tags: Sony, results, mobile, ps3, financial, loss, vaio, smartphone, fiscal, 2013, PS4

Follow us on

  • RSS