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 Sony announces annual profits

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Registration date : 2008-04-18

Sony announces annual profits Empty
PostSubject: Sony announces annual profits   Sony announces annual profits Icon_minitimeThu May 15, 2008 11:05 am

Today Sony has released there earnings for the fiscal year ending on March 31st 2008 and believe it or not they are in the green. Sony have reported that there operating income has been increased by 491% translating to £1.837 billion. There was a sizeable loss in the gaming segment (most likely due to the selling the PS3's at a loss) but both the PSP and PS2 were still bringing in strong sales.
During the last fiscal year (ending March 31st 2008), Sony has increased its operating income by 491.9% over the earnings for the previous 2006/07 fiscal year. The operating increase year-on-year was from 71.8 to 374.5 billion Yen (£352 million to £1.837 billion).

Sony reported that an increase in sales, as well as the Yen's depreciation against the Euro, were the main causes of growth. Although the company's game segment did end the year at a loss of 124.5 billion Yen (£610.3 million), this did nevertheless mark an increase in operating income of 107.8 billion Yen (£528.5 million) over the previous year.

The PS3 sold 9.24 million units worldwide during the last financial year for Sony, which brings the console's total worldwide sales since its release to 12.85 million. Sales of PSP units increased by 4.36 million units over the previous fiscal year, selling a total of 13.89 million consoles during 2007/08.

Price reductions to PS3 retail packages were cited as one of the most significant reason for the reduction in losses for Sony's game segment, while impressive PS3 software sales for the fiscal year of 57.9 million units were also seen as a contributory factor
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