Sony Reports $346 Million Loss This Quarter

Sony Reports $346 Million Loss This Quarter

Make some space in the soup kitchen lines Nintendo. Apparently Sony is going to be right there with you.

Earlier in the week you might have seen Dan’s article about Nintendo’s impressive billion dollar loss for this year. Turns out, Sony is right there with them with a projected loss of $1.2 billion dollars for this year. That’s after they had originally projected a $769 million profit. Someone probably got fired over that one…

The devastating natural disasters that hit Japan earlier in the year, plus the flooding in Thailand account for some of Sony’s loss but it’s worth noting that TV sales have lost money for the past seven straight years. Couple all that with the devastating security breach on the PlayStation Network and it becomes pretty clear that a lot of factors conspired to bring Sony into the red.

We are constantly hearing of the big three console producers taking losses almost every single year and it’s interesting to think of what the future may hold. While Sony and Nintendo are obviously multi-billion dollar enterprises, how long before they either end up out of business or decide that video games aren’t profitable?  Maybe the time is almost upon us for the Google powered console that I’ve been preaching all these weeks.

Source: Associated Press

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