For years the Playstation franchise carried Sony’s (SNE) earnings. The PS2 was one of the great selling consumer electronics products of all time.
Sony stumbled with the launch of the PS3. Microsoft’s (MSFT) Xbox had taken too many customers and the Nintendo Wii was becoming the world’s top game console. Sony’s CEO had to step down, and Howard Stringer was brought in from the US to run the company.
Sony’s game division has finally gone into the black.
Net income at Sony moved up 25% to $1.9 billion for the quarter ending December 31. Revenue rose almost 10%.
TV sales were the big winner for Sony during the quarter. Financially, the game unit which includes PS3 was a footnote. But, it is no longer a drag on earnings.
If there is any virtue to patience in business, it has found some very modest reward at Sony.
Douglas A. McIntyre
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