Sony Consumer Products report $1.099bn Q3 loss

The Consumer Products & Services division of Sony, which houses amongst other things its PlayStation business, has reported a loss of $1.009bn for the quarter ending December 31st 2011.

Overall sales at the unit reached $12.776bn – an annual decline of almost 25 per cent.

Amongst other things, the increased costs of network service promotions and the PS3 price cut were said to be key factors in the numbers. Unfavourable exchange rates and poor sales of LCD TVs were also named as culprits.

Overall Sony reported revenues of $23.37bn for the quarter (down 17.4 per cent) and a company-wide operating loss of $1.176bn. Net losses hit $2.038bn.

Deterioration of market conditions in developed countries and the Thailand floods were seen to be key factors. Indeed, damage to Sony’s Thai manufacturing plants alone is said to have cost the company some $114m.

Overall sales for the nine months ending December 31st fell 12.6 per cent to $62.728bn with an operating loss of $844m.