PlayStation division revenue up by 16.8% partially due to PS4 sales

By Stephany Nunneley, Tuesday, 17 March 2015 15:33 GMT

Sales in Sony’s PlayStation sector have increased 16.8% year-over-year to ¥531.5 billion ($4.39 billion) due to an increase in PlayStation 4 sales and network services revenue, according to the firm’s Q3 consolidated financial results for the period ending December 31, 2014.

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Sony said revenue for the Game & Network Services (G&NS) sector which includes PlayStation, was partially offset by a decrease in PlayStation 3 hardware and PS3 software sales. Sales to external customers increased 19.7% year-on-year.

Operating income increased ¥15.2 billion yen year-on-year to ¥27.6 billion ($228 million). This “significant increase” was primarily due to the impact of the above-mentioned increase in sales, partially offset by the impact of the decrease in PS3 software sales, and a ¥11.2 billion yen ($93 million) write-down of PS Vita and PS TV components.

“This write-down was recorded because the latest forecast of PS TV unit sales does not reach our original forecast as a result of lower than expected unit sales in the current quarter,” said Sony in the results [PDF]. “In the same quarter of the previous fiscal year, a ¥6.2 billion write-off of certain PC software titles was recorded.”

Sony said it expects its financial year-end results to be higher than previously forecasted primarily due to an expected increase in unit sales of the PS4, an expected increase in network services revenue and “favorable impact of foreign exchange rates.”

For the year ending March 31, 2015, Sony expects to report 17.5 million units sold of PS3 and PS4 combined, and 3.5 million units of PSP, PS TV and Vita combined.

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