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Sony gaming division finally sees a profit

2 February 2008 15:30 by Andre "DVDBack23" Yoskowitz | 5 comments

Although the PlayStation 3 had a slow start, after multiple price cuts and aggressive ad campaigns, sales have picked up and Sony has breathed a sigh of relief. The company has reported a 6 percent increase in its quarterly operating profit citing very strong sales in the video game market. Overall, net income in Q3 increased 25 percent to $1.9 billion USD and sales were up over 9 percent.

Sony Computer Entertainment, also known more affectionately as the PlayStation division, turned a profit for the first time since the PS3 launched thanks mainly to increased sales and reduction in production costs which led to price cuts. For the holiday quarter, Sony was able to sell 4.9 million PS3s worldwide.

Despite the high sales though, Sony also announced it would lowering its full year sales target from 11 million down to 9.5 million, a pretty significant reduction.

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Permalink to this article | Topic: Consoles

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Discuss this article!
spydah (Junior Member) 2 February 2008 21:31
Keep making them strong strides Sony... You have done some good things over the last 6 - 8 months. [ + quote]
DXR88 (Member) 3 February 2008 10:40
Here a chart sony to help you along the way. Great products + great games + great support = $$$ [ + quote]
wetsparks (Member) 9 February 2008 0:02
*Originally posted by DXR88:* Here a chart sony to help you along the way. *cheap hardware* + great games + great support = $$$ Thought I would fix that quote for you. The hardware is virtually the same as it was when it was released, they just sold it (a bit) cheaper. And with blockbusters like GT5 and MGS coming soon also helps. God hates console fan boys. http://cad-comic.com/comic.php?d=20050205 ----- May the way of the hero lead to the Triforce. [ + quote] This message has been edited since posting. Last time this message was edited on 9 February 2008 0:03
DXR88 (Member) 9 February 2008 20:12
@wetsparks thats copy right infringement buddy prepaird to get uber sued. Ahem no but thanks, for revising by brain cell killing chart. [ + quote]
borhan9 (AfterDawn Addict) 22 February 2008 19:11
The issue here is we all said if the prices of the ps3 goes down sales figures will go up however yes profit margins are smaller but however u are still in the been or black :P people have to see it as a plus to be in a profit situation and not in the red. [ + quote]