Sony's campaign of cost-cutting over the past few months have allowed the electronics giant to trim its losses for the second quarter of its current fiscal year by nearly 50 percent year-on-year to ¥15.5 billion ($194 million USD). The company is also staying course with its full-year forecast of ¥20 billion in annual profit, though its annual revenue estimate was revised downward to ¥6.6 trillion.
A slowing global economy, high currency value and increased competition continue to play their part in making things really tough for Sony nowadays, and as a result the company has trimmed its annual unit sales forecast across multiple divisions including gaming. In particular, Sony was forced to slash its full-year handheld hardware sales estimate for the second time this year to 10 million units. Sony had previously trimmed its annual handheld sales forecast of 16 million units down to 12 million back in August.
Revenue from Sony's gaming division dropped 15.8 percent to ¥148.2 billion as console hardware sales slid year-on-year during the quarter ended September 31st, 2012. PS3 and PS2 hardware sales fell to 3.5 million units from 4.9 million last year. Console software sales in contrast rose slightly to from 40.2 million to 41.4 million units.
Meanwhile, quarterly PS Vita and PSP hardware sales hit 1.6 million units combined, a year-on-year reduction from the 1.7 million PSPs that managed to sell before the Vita ever launched. On the bright side, handheld software sales increased to 8.7 million units from the 8.2 million PSP titles which sold during the same period last year.