Hardware sales help Sony stem losses

Sony has reduced operating losses in its PlayStation business to ¥3.8 billion ($43 million) for the first quarter ended June 30, a significant improvement over the ¥36.7 billion loss it recorded for the same period last year.

The Networked Products and Services division, which also includes the company's PC business, recorded improved sales of 32 per cent to ¥325.9 billion ($3.7 billion), due to an increase in units sales of the PlayStation 3 and a reduction in manufacturing.

During the period, Sony sold 2.4 million PlayStation 3 units, up from 1.1 million a year earlier. PlayStation Portable sales were down from 1.3 million to 1.2 million units, and PlayStation 2 sales remained constant, with 1.6 million units sold, the same as the first quarter of of 2009.

PlayStation 3 software climbed by 10 million units compared to last year, with 24.8 million games sold in the last quarter, compared to 14.8 million a year earlier. PSP game sales were also up to 9.2 million, from 8.3 million, and PS2 sales were down from 8.5 million in 2009 to 3.4 million.

The overall Sony business recorded operating profit of ¥67 billion ($753m) for the first quarter, compared to a loss of ¥25.7 billion for the previous year. Sales were ¥1.6 trillion ($18.7 billion), an increase of 3.8 per cent compared to the previous year.

Net profit for the period was ¥25.7 billion ($289 million). As well as Networked Products and Services, the Consumer, Professional and Devices business also made a significant contribution, said Sony.