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Sony posts third quarter loss of $115 million, cites 'significant' decrease in hardware and software sales

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Sony posted a third quarter loss of 10.8 billion yen ($124 million) for the fiscal year ending March 31, 2013, citing decreased sales of its video game hardware, the company shared in its recent quarterly financials report.

For the third quarter ending on Dec. 31, 2012, Sony reported 1.9 trillion yen ($22 million) in sales and operating revenue, a 3 percent increase from the same period last fiscal year. Sony cited high sales in its mobile, film (Sony Pictures) and financial services sector, while sales in its home entertainment and game departments decreased significantly. The company's total operating profit was 46.4 billion yen ($496 million).

Game hardware and software brought in an operating revenue of 268.5 billion yen ($3 billion), a 15.1 percent decrease from last year's third quarter. The company stated sales of the PlayStation 3, PlayStation Portable and Vita dropped "significantly." Operating income was 4.6 billion yen ($53 million), a large decrease from last fiscal year's income of 33.8 billion yen ($360 million), which Sony also attributed to low hardware sales.

Despite posting losses, Sony's forecast for the fiscal year ending March 31, 2013 show overall sales and operating revenue of 6.6 trillion yen ($70 billion) and an expected net income of 20 billion yen ($213 million). In its game sector, the company expects its full-year sales and operating income to be lower than last year due to the continuously low sales of portable hardware.