Sony’s Profits Soar Thanks to High PlayStation 4 Sales and Reduced Production Costs.

Sony bosses are likely to be doing a Scrooge McDuck right now, diving into a vault full of money, thanks to another fantastic month for the company. Sony have revealed their earnings for June as well as the first quarter of their financial year which are pretty impressive all thanks to the PlayStation 4. Sony’s Game and Network Services division, the division that the PlayStation 4 is a part of, earned a whopping $2.55bn during the quarter ending 30th June 2014 – wowza.

The reason for such high sales comes from both sales of the PlayStation 4 and a “significant increase” in network services revenues reports Sony – y’know all that money we put into PlayStation Plus and Sony’s online services – all of which comes despite a drop in PlayStation 3 sales. Sony’s Game division also did well for itself making a profit of $43m compared to the loss of $159m that this division saw in the same quarter last year.

Sony also revealed home console sales for this quarter reporting that both the PlayStation 3 and PlayStation 4 combined shipped an impressive 3.5m which compared to the 1.1m combined sales of Microsoft’s Xbox 360 and Xbox One see’s a ratio of at least 3:1 consoles sold, in Sony’s favour.

As for Sony’s underrated handheld, the PS Vita, Sony lumped that together with the PSP and the PlayStation TV which together shipped 750,000 units, Sony revealed, which is up on the 600,000 during the same quarter last year.  And as for games, Sony revealed that in this quarter 85m games were sold which is up on the 68m figure from last year.

With all that, Sony revealed that in total the company earned a massive $17.92bn which is up by over 5 percent on last year with profits up by $268m mostly thanks to the Game division.

Finally, Sony is expecting a bright future for the company and the PlayStation 4 and have revealed that production costs for their latest-gen console has been reduced – could this mean that Sony will drop the price of the PlayStation 4 a little sooner than expected?

“Sales are expected to be higher than the May forecast primarily due to the strong performance of the PS4,” Sony said in its latest earnings report. “Operating income is expected to be higher than the May forecast primarily due to PS4 hardware cost reductions.”

TL;DR: Sony are doing pretty well for themselves.

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