Sony reports increased Q2 losses

Sony's Networked Services Division has reported increased losses in the second quarter of its current fiscal year, according to Edge Online.

The sector, which houses the firm's PlayStation and VAIO businesses, announced year-on-year losses of £2.3 billion, along with operating losses of £390 million. The difference was attributed to the strengthening yen and the decline of the PS2.

"Sales in the game business decreased year-on-year primarily as a result of the impact of the appreciation of the yen as well as a decrease in unit sales of PlayStation 2 hardware and software," the company explained.

"In the game business, the deterioration in profitability was mainly due to a decrease in PS2 hardware and software unit sales, and the impact of the appreciation of the yen. The deterioration in profitability for VAIO PCs was due to the reasons noted above that contributed to lower sales."

Despite overall losses, Sony announced that PlayStation 3 sales are on the increase. The firm sold 3.2 million PS3s, up from 2.4 million the previous year. However, PSP sales dropped from 3.2 million to 3 million, while PS2 sales declined from 2.5 million to 1.9 million.

Software sales for both the PS3 and PSP rose during the quarter, but PS2 software sales more than halved.