Sales and operating revenue (“Sales”) decreased by 0.1% compared to the same quarter of the previous fiscal year (“year-on-year”) to 1,808.1 billion yen (14,820 million U.S. dollars). Sales were essentially flat year-on-year mainly due to a decrease in Mobile Communications (“MC”) segment sales reflecting a significant decrease in smartphone unit sales and a decrease in Home Entertainment & Sound (“HE&S”) segment sales reflecting a decrease in unit sales of mid-range LCD televisions, substantially offset by the impact of foreign exchange rates and a significant increase in Devices segment sales reflecting the strong performance of image sensors. On a constant currency basis, sales decreased 7% year-on-year. For further details about the impact of foreign exchange rate fluctuations on sales and operating income (loss).
Operating income increased 27.1 billion yen year-on-year to 96.9 billion yen (794 million U.S. dollars). This significant increase was primarily due to an increase in operating income in the Music segment, reflecting the recording of a remeasurement gain, described below, and the impact of the increase in sales in the Devices segment. This increase was partially offset by the negative impact of foreign exchange rates in the MC segment and lower sales in the Pictures segment due to a decrease in theatrical and television licensing revenues for Motion Pictures.
Game Segment-
Sales increased 12.1% year-on-year (a 7% increase on a constant currency basis) to 288.6 billion yen (2,365 million U.S. dollars). This significant increase was primarily due to increases in PlayStation 4 (“PS4”) software sales and PS4 peripheral device unit sales as well as the impact of foreign exchange rates, partially offset by a decrease in PlayStation®3 (“PS3”) hardware and software sales.
Operating income increased 15.1 billion yen year-on-year to 19.5 billion yen (160 million U.S. dollars). This significant increase was primarily due to PS4 hardware cost reductions, the above-mentioned increases in PS4 software sales and PS4 peripheral device unit sales, partially offset by the negative impact of the appreciation of the U.S. dollar, reflecting the high ratio of U.S. dollar-denominated costs and the decrease in PS3 software sales.
Operating income in the current quarter also includes 4.7 billion yen (39 million U.S. dollars) of insurance recoveries related to losses incurred from the cyberattack on Sony’s network services including the PlayStation®Network in the fiscal year ended March 31, 2012. During the current quarter there was a 15.6 billion yen negative impact from foreign exchange rate fluctuations
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Sony increased their forecast for PS4 shipments this year from 16 million to 16.5 million which means that they expect 38.8 million PlayStation 4's to be sold in worldwide by March 31st 2016.
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