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Sony Loses $312 Million To Start Off 2012, PlayStation Loses $45 Million

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Posted on August 2, 2012 AT 11:58am

Sony’s been cash-strapped for a quite a while now, and judging by their latest quarterly report, things won’t be looking up for them anytime soon. With their financial losses leading to corporate pay cuts, executive shuffles, and attempts to sell off their expensive New York skyscraper headquarters, they’re now starting their 2012 fiscal year $312 million in the hole.

It’s not just the PlayStation either, as Sony’s film, TV, and phone divisions are also losing money.

According to their April 2012-June 2012 filings, only Sony’s camera and music divisions made a profit at all, which is likely supported by the fact that Sony Music Entertainment bought music publishing group EMI earlier this year—plus, Sony’s camera line is still one of the top-quality brands in the market.

Sony’s PlayStation division didn’t help matter much, though, suffering a $45 million loss (a 14.5 percent drop from Q1 2011) thanks to lackluster PlayStation Vita sales, along with sluggish PS3 and PSP sales.

Right now, the company’s best performer is actually their mobile division, which houses their smartphones, tablets, and popular Xperia line. In Q1 2012 alone, Sony Mobile did $3.6 billion in sales (more than double their Q1 2011 mark), despite losing $356 million in the bargain from poor PC sales.

Still, not all great news for Sony. It’s too bad they don’t have any new gaming consoles on the horizon to boost sales next year, although the company still has plenty of revenue streams float through until then.

Source: Sony

McKinley Noble, Contributing Editor
McKinley Noble has been writing about video games for seven years as a blogger and journalist, with each job adding to his painstakingly alphabetized collection of retro gaming memorabilia. When not cracking jokes about the gaming industry, he's a talking encyclopedia when it comes to mixed martial arts and anything MMA related. Follow him on Twitter: @KenTheGreat1. Meet the rest of the crew.

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