Sony game division actually makes profit
by Andrew Yoon 
{ Jan 31st 2008 at 9:15AM }
It's finally paying off. Sony's risky gamble with the PS3 is finally netting the Japanese electronics company some green. Sony's third fiscal quarter had a 25% rise in net income to 200.2 billion yen ($1.9 billion) for the entire company. According to the NY Times, the typically loss-driven games division also generated some profit due to reduced production costs.Still, Sony has had to lower its PS3 sales goal for the fiscal year ending in March from 11 million to a less lofty one of 9.5 million. The company has managed to sell 4.9 million consoles from October to December of 2007 -- that's quite a significant number of consoles! Sony's other system, PSP, is becoming increasingly important to the company -- its sales goal has been raised from 10 to 13 million units.
With further reductions to the cost of manufacturing, and an ever-increasing library of games and Blu-ray movies, it looks like things are finally looking up for the once-beleaguered company.
[Thanks, Michael A.! Via Engadget]
Reader Comments (Page 1 of 1)
Chris Rah Osiris @ Jan 31st 2008 9:56AM
Sony FTW
JaseH @ Jan 31st 2008 10:09AM
Aaaaaaaaaaaaaaand that's how it's done, boys & girls.
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JaseH.
richard @ Jan 31st 2008 10:36AM
always bet on black...yo
Byron517 @ Jan 31st 2008 10:36AM
GOOD JOB SONY!!!! Way to step up and move forward!!! DON"T LET UP!!! PUSH PUSH PUSH!!!
Kspraydad @ Jan 31st 2008 10:55AM
I thougt SONY's year end goal was for LTD 11 million...with this YTD being 9.5 doesn't this mean they will meet that?
matt @ Jan 31st 2008 11:09AM
wow why is nobody pointing out total sales compared to the 360? That's pretty important!
Oct - Dec 2007
PS3: 4.9 mil
360: 4.3 mil
Considering the release of Halo 3, that's huge for the PS3 regardless. I had to go back and search the sales figures but yeah, things are looking good. 2008 is gonna be awesome!
Hyams @ Jan 31st 2008 11:19AM
PS3 has been consistently outselling the 360 for a little while now. Indeed, the PS3 seems to be following the path of the PS2, whereas the 360 is falling under; take a look-see:
http://vgchartz.com/hwlaunch.php?cons1=PS2®1=All&cons2=PS3®2=All&cons3=X360®3=All&weeks=115
Popfrogs @ Jan 31st 2008 1:08PM
360 is starting to reach market saturation, by the end of this year I'm betting that everyone who wanted a 360 already has one. You'll probably see PS3 sales continue to climb while 360 sales decline.
Hyams @ Jan 31st 2008 11:17AM
Why have Sony changed their target to 9.5 mil consoles? They've already sold 9.6 according to VGchartz, so haven't they already achieved this target?
10 mil PS3's sold by the end of March certainly isn't impossible. They should be aiming for that instead.
Kspraydad @ Jan 31st 2008 11:35AM
VG talks out of their @ss....you can only look to it for general trends NOT actual sales results.
Carlton @ Jan 31st 2008 12:55PM
It's 9.5m for the fiscal year, not lifetime.
tanker @ Jan 31st 2008 10:25PM
the 9.5 mil is what the sony want the ps3 to sell from March 07 to march 08.
adamevex @ Jan 31st 2008 1:19PM
They probably have the production costs down to where they can reduce the price on the 40GB and introduce a new SKU (120GB with DS3). Also, they have a highly anticipated roster of games coming out this year. I'm sure they just want to be conservative because of shareholders.
Things are finally looking up.
The thing is with all this news i've been putting off getting one for myself.
mji245 @ Jan 31st 2008 2:28PM
go ps3 own that 360
DrunkRaba @ Jan 31st 2008 6:41PM
good job, profitability is awesome, just ask M$ who have a whole 3 quarters of gaming profitability now lol. Good luck to Sony, I hope the PS3 does as well as the PS2 did and has an even longer life!