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Sony reports huge financial losses, annual PS3 sales down

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Sony has reported losses of more than $5.74 billion (£3.4bn) for the latest financial year.

The figures, which incorporate Sony's entire operation, were better than the $6.4 billion (£4bn) previously forecast, but still represent a fourth consecutive year of losses for the struggling firm.

PS3 Playstation 3
Kaz Hirai, Executive Deputy President of Sony Corporation

© Sony















PS3 sales were down from 14.3 million to 13.9 million, PS2 sales dropped from 6.4 million to 4.1 million, while the PSP shifted 6.8 million units compared to 8 million the year before - the lowest annual tally in five years, reports Eurogamer.

PS3 software sales were up on the previous year, with 156.6 million global units sold, compared to 147.9 million from the previous year, although PSP and PS2 software sales fell dramatically.

Sony didn't release hardware or software sales figures for the PlayStation Vita, though it has previously predicted that the handheld would generate $2.2 billion (£1.4bn) in hardware sales in 2012.

Braced for the financial results, Sony recently announced plans to cut 10,000 jobs worldwide and slash the number of TV models it makes by 40%.

Sony chief executive Kazuo Hirai said that the cuts would be made over the coming year and represent 6% of the entire workforce.

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