Sony has posted an operating loss for the quarter ended December 08. The company says it sold 4.46 million units PlayStation 3 during the three months, down from 4.9 million units (down 9 percent ) a year earlier. PSP sales were down from 5.76 million units to 5.08 million units.
Profit for the October-December quarter fell to 10.4 billion yen ($114 million), down from 200 billion yen a year ago. The PlayStation manufacturer posted an operating loss of 18 billion yen, compared to an operating profit of 236 billion yen last year. Revenues were down from 2.86 trillion yen to 2.15 trillion yen. Sony says it expects to post a loss for the year. The games unit suffered a 97 percent drop in operating profit.
Earlier this month Sony boss Sir Howard Stringer said, "demand has decreased, currency exchange rates have become dislocated, consumer credit has been stifled and some of our biggest retailers have been liquidated." The firm has said that it plans to cut 10 percent of its workforce in an effort to save costs.