Sony’s Income Increased 25% in Quarter

Sony's games division finally turned a profit last quarter. Sony sold 4.9 million PS3s last quarter after slashing console prices, boosting game titles, and cutting production costs internally. Of course, we're sure Wii shortages aren't hurting Sony's bottom line either. Sony did lower its annual sales goal of PS3s from 11 million to 9.5 million (citing a slow start) while increasing PSP projections to 13 million from 10 million as originally expected. Sony's fiscal year ends in March. Overall, Sony's profits rose 25% for the quarter. Welcome back to black Sony, it's been a long time coming.

Sony also enjoyed robust holiday demand for its Cyber-shot digital cameras, Handycam camcorders and Vaio PCs, while cutting production costs of its loss-making PlayStation 3 game console and broadening its game software lineup.

Its game business swung to a profit after Sony cut production costs and retail prices of the PlayStation 3 game console and broadened its game software lineup in a bid to catch up with Nintendo’s Wii and Microsoft’s Xbox 360.

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Tags: Upcoming PS3 and Xbox 360 Video Games, TV Shows on DVD