By John Glenday

Sony’s PlayStation 4 games console may have been flying off the shelves, with 47m devices now having shipped, but this has failed to do much for the electronic giants bottom line as second quarter revenues and profits decline.

Over the three months to 30 September Sony’s videogame division earned $3.17bn, an 11% decline year-on-year, whilst operating profits fell by an even more precipitous 20% to $188m.

This is being attributed to disadvantageous exchange rates in addition to a series of price cuts to the PlayStation 4 – although this has been offset to some extent by growing software revenues.

Sony shipped Read full story ›

Source: The Drum