Sony reports annual sales and profits decline in gaming division

Sony has reported financial results for its fiscal 2013, showing unsurprising declines across the board as it prepares to transition from one console generation to the next.

The firm saw sales hit 707.1bn yen for the fiscal year ending on March 31st of this year – a drop of 12.2 per cent overall compared to 2012.

The gaming division itself was down 1.7bn yen, compared to the 29.3bn yen brought in during the year prior. PS3 and PS2 consoles moved 16.5m units, while PS Vita and PSP handhelds shifted 7m units in the period.

Sony attributed the sales decrease to aging PS3 and PSP hardware, but also cited the struggling Vita as one of the main reasons for the decline. That in mind, the upcoming launch of the PS4 provides the company with a rosier outlook going forward.

Sales are expected to increase significantly primarily due to the planned introduction of the PlayStation4 (PS4TM”) in the fiscal year ending March 31, 2014,” the company stated in its report.

Operating income is expected to be essentially flat year-on-year primarily due to an increase in research and development expenses and marketing expenses related to the introduction of the PS4, offset by the impact of the above-mentioned increase in sales.”