Sony Loses Billions

Sony's Consumer Products & Services division (which contains the PlayStation and LCTV businesses) has reported a multi-billion yen loss for the second quarter ending on September 30.

Although sales for both the PlayStation 3 and PSP were up from the same three-month period last year (PS3: 3.7 million units worldwide; up from 3.5. PSP: 1.7 million; up from 1.5 million), and PS3 software was up (37.4 million units sold as compared to 35.3 million units), none of it was enough to offset what Sony says are the manufacturing costs and weak sales of its LCTV division. The PS3 price drop, currency rates, and general weakness of video game sales were also cited as culprits.

Overall, the Consumer Products & Services division lost 34.6 billion yen ($449 million) in the second quarter – a marked difference from the billion yen profit of the previous year.