PS3 News: Sony Doubles Annual Earnings Projections Due To Weaker Yen - PS3 News

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Sony Doubles Annual Earnings Projections Due To Weaker Yen

Good news for Sony and all you stockholders out there.

According to a BBC report, the electronics giant has doubled its projected earnings for the recent fiscal year ending March 2013, resulting in a doubled net profit forecast of 40 billion yen (about $403 million).

Sony cites the weakening of the Japanese yen as a major factor in the upswing, simply because this increases the company's earnings when its revenue in other currencies is converted. Since December 2012, the yen has lost about 15% of its value when compared against the US dollar. Sony also cites some asset sales as reasons for the increased prediction; there was no mention of excitement generated by the recently unveiled PlayStation 4. And of course, that's just because nobody knows if the PS4 will be a financial boon for Sony...or a drain, at least at the start.

Anyway, perhaps the future is a little brighter.

Tags: sony, sony corporation, sony business, sony projections

4/25/2013 11:36:39 AM Ben Dutka

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Comments (4 posts)

city96
Thursday, April 25, 2013 @ 12:06:23 PM
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Weak Yen, Imports are more expensive and exporting is cheaper. This means that the PS4 will be cheap for US, EU customers. Should remain a good price for Japanese customers.

This is also beneficial as the weaker Yen will be worth more when converted back from £ or $.

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daus26
Thursday, April 25, 2013 @ 12:43:09 PM
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Funny how it works, but it makes a lot of sense.

Perhaps, this was one of the reason why Japan had an exclusive Vita sale.

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Axe99
Thursday, April 25, 2013 @ 3:13:03 PM
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Glad to hear the yen's swinging the right way for them (and Ninty) again - the GFC hammered them badly when the US dollar and Euro lost value. It wasn't the only reason for Sony's losses, but had a huge impact. The new Government over in Japan is committed to a weaker yen, so hopefully it'll remain a positive for a while, noting this isn't necessarily straightforward to achieve.

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___________
Friday, April 26, 2013 @ 7:45:07 AM
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the sales of quite a few of their headquarters will be helping this.
nice to see the yen on its way down after record highs!
hopefully this is just the start of the improvements, and hey maybe $ony will come to their senses and bring back zipper and liverpool studio!
come on, zipper is such a cool talented studio we totally need them back!
they were apparently working on a new IP for the ps4s launch too, that would of been interesting.
speaking of the ps4 im sure they will start making a profit off it from the word go, $ony REALLY cant afford to take losses off the system.
plus the demand for it is pretty high, allot higher than the position the ps3 was in.
so that should mean they can afford to come in at a higher price point to help avoid losses on each system sold.
plus the switch to off the shelf PC hardware well be a big, big, BIG help in those regards of manufacturing costs.

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