The PlayStation 4 is selling tremendously well since its launch last year, selling over seven million units and leading the Xbox One by roughly two million worldwide. The rest of the financial outlook is not too bright for Sony, however, who has had a rough time with the rest of its properties.
Eurogamer is reporting that Sony says this financial year is only going to get worse--not a good sign since the company already projected significant losses. The Japanese company issued a warning stating that the losses will likely be 18 per cent worse than last predicted.
The dollar figure on that projection is $1.27 billion, or 130bn yen, a brutal amount for almost any company. According to Eurogamer, Sony had actually expected to make a profit at one point in the year, but that prediction has clearly become irrelevant.
Sony's sales are actually up 14 percent overall, but it's a few specific business decisions that are responsible for the heavy losses it will be posting. $29.3m costs related to Sony's sale of its Vaio PC business are largely responsible for the poor performance. Excess parts and components meant for use in the spring PC lineup launch are left over due to poor sales, which Sony will have to pay for prior to seeing off the PC business.
Current Sony CEO and former PlayStation boss Kaz Hirai has been attempting to turn around the company's fortunes by cutting operating costs since his appointment two years ago, struggling in part due to poor TV sales.