PS3 Sales Rise After Price Drop, But Sony Posts Losses
Price drops tend to work.
Sony issued a worldwide price drop for the PlayStation 3 in August and in a financial report released today, the company revealed that the price cut allowed console sales to rise during the quarter ending September 30.
The PS3 sold 3.7 million units in that span of time, 200,000 more than the same period last year. The PlayStation brand saw other increases as well: PS3 software sales were up from 35.3 million to 37.4 million, and even the PSP hardware rose a few hundred thousand units to 1.7 million. Software for the portable fell to 8.1 million (down from 11 million in Q2 2010), and the PS2 has continued its fall back to earth; hardware sales were down 300,000 to 1.2 million and software has been halved; 5.6 million to 2.8 million.
However, despite PlayStation's good performance, Sony's Consumer Products & Services division (which also includes TVs, home audio, cameras, and other personal electronics) fell 12% to Ą779.7 billion ($9.99 billion, Ł6.24 billion) for the quarter. Sony cited "unfavorable foreign exchange rates and a deterioration of the market in the US and Europe" as reasons for the decline. The company was down 9% overall.
But when the PS3 falls in price, one can almost always expect a rise of some kind.
11/2/2011 10:37:00 AM Ben Dutka