Sony Reports Annual Loss But Gives Glowing Report of Games Business

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Sony reported its financial results for its fiscal year ended March 31, 2011. Sony emphasized the success of its game unit and emphasized increased profitability of its game business thanks to a lower cost of manufacturing the PlayStation 3. Read on for more details...
For the fiscal year ended March 31, 2011, Sony reported a net loss of ¥259.6 billion (around $3.1 billion), compared to a net loss of ¥40.8 billion in the previous year. Sony largely blamed the company's problem on a net loss related to Japanese deferred tax assets, but pointed out that the company's increase in operating income was driven by the Networked Products & Services division (and primarily by the games business within that division).


For the Networked Products & Services division that includes the game business, Sony reported very slightly higher sales, but much higher operating income largely due to a lower cost of sales resulting from "significant cost reductions of PlayStation 3 hardware."

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This page contains a single entry by Editor published on May 26, 2011 10:31 AM.

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