Sony has just posted its latestfinancial report (opens in new tab), which sees overall profit projections reduced by a painful 25%. The report sees the company's gaming division fall victim to the same losses suffered by the company as a whole. There are plenty of reasons for the drop %26ndash; Q1 2011 was a bad time to be based in Japan, and the last five-odd years have been a bad time to be based within the global economy %26ndash; but guess what? Despite being the company's only consumer division to bear the full brunt of the earthquake, recession, and April's PSN outage, Sony's Gaming department posted a smaller loss than any other division in its category. Hoorah.
Comparing Q1 2010 to Q1 2011, PlayStation 3 sales have dropped 25%. Gaming as a whole lists an 11.9% drop in revenue over the same period. This makes sense because it has been a real shit year to be a person living on Earth. However, if you look up the term %26ldquo;Pyrrhic Victory%26rdquo; in the dictionary, do you know what you'll see? No, not a picture of a PlayStation 3, because they don't put pictures in the dictionary, which is a small and somewhat damning sort of triumph for Sony's Gaming division %26ndash; which, what do you know, is exactly what a Pyrrhic Victory is.
Above: The little machines that (comparatively) could. Also, Avatar
Because hey, Gaming may have been decimated by the past year's strife and woes and Anonymouses, but the company's TV, Home AV, Digital Imaging and Personal/Mobile Products divisions all posted greater losses. Meaning that the guys that make PlayStation products are actually, at the moment, the heroes of Sony's consumer division for holding (a comparable portion of) the line. Nice work, guys! Sony has told investors it still predicts an overall growth in PS3 sales for the year. The company notes that PSP sales have improved by 30%, raising hopes that upcoming releases such as the PlayStation Vita may improve the fortunes of the company's Gaming division over the next financial year.
Jul 28, 2011