Playstation3 helps Sony triple annual profit
Consoles itself with $3.5 bill.
JAPANESE GIANT SONY posted tripled profit for 2007 over 2006, despite a shock fourth-quarter loss.
Strong sales of the Playstation 3 as well as increased sales of electronics in general propped up the company's figures following poor results in its film and financial sectors, and millions of dollars of operating losses.
Sony beat analyst predictions with profit of $3.5 billion over the year.
The electronics giant said sales grew 6.9 per cent to an impressive $84.15 billion with revenues for electronics, including LCD screens, Vaio computers and cameras, up by 8.9 per cent.
Gamers were the ones that really gave Sony a boost though, with the company’s game division seeing a whopping 26.3 per cent jump in revenue due to increased PlayStation3 sales.
As for the losses, Sony’s flailing film division was down by a hefty 11.2 per cent this year and the firm’s financial services slumped 10.5 per cent caused by bad investments, a poor economy and fluctuations in convertible bonds.
Despite the rather positive results, however, Sony is not looking optimistic for the year ahead. The company has predicted that its net income will drop some 22 per cent this fiscal year due to worries about the global economy. µ
Comments
kaching
...and here I thought that game consoles themselves are supposed to be loss makers.Ooooohhh!
"Consoles itself with $3.5 bill."Nice one!
It don't add up!
I thought Sony was selling the PS3 at a loss. How then can selling more loss making units boost profits?@Arthur
Games, Arthur games. Hardware is not ment to make profit, software is to do so."games" division
"games" division. They don't sell "games" at a loss.