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Sony Continues to Struggle, Posts $312 Million Loss for Q1 2012, Lowers Vita Sales Expectations

August 2, 2012 Written by Alex Osborn

Things aren’t looking so hot in the land of Sony, as the company has revealed that they’re facing a disheartening loss on the order of $312 million for the first fiscal quarter of 2012.

Total revenues amounted to $19,180 million, providing the company with a year-on year increase of just 1.4%. Of course, the current economic situation and the value of the yen hasn’t helped their situation, as “the operating environment surrounding Sony in the first quarter continued to be difficult with the economy slowing in many areas of the world and the trend toward appreciation of the yen taking hold.”

And things aren’t looking all that swell specifically for the PlayStation brand either, as the gaming division saw a 14.5% year-on-year decrease to $1,493 million. Not only that, but Sony has had to lower their projections for the Vita’s performance this year as well. According to Sony:

Primarily due to the lowering of the annual unit sales forecast for portable hardware, sales are expected to be significantly lower than the May forecast… Sales are expected to be essentially flat and operating income is expected to decrease significantly year-on-year.

As far as hardware sales, the PS2 and PS3 raked in 2.8 million units, resulting in a 3.2 million decrease when compared to last year. Software also took a dip from 27.6 million to 20.1 million. Sony’s portable consoles sales saw a substantial of a decline in sales as well, with both the Vita and PSP selling only 1.4 million versus the 1.8 million the PlayStation Portable sold by itself last year. Handheld software also suffered with just 5.8 million in sales across both platforms, compared to last year’s 6.6 million in sales all just for the PSP.

Hopefully Sony will be able to turn things around with a big 2013, packed with The Last of Us, God of War: Ascension and Beyond: Two Souls.