Sony's profits drop drastically this quarter, 'Spider-Man 4' needed badly

According to Sony's latest earnings report, the company's profits have dipped to almost half of what they were at this time last year. Analysts are citing a strengthened yen, the lack of a major Hollywood blockbuster like Spider-Man 3, and continuing issues with its mobile phone arm as core reasons for the slide. It's no surprise that the company is taking a hit, especially after the outrageously poor performance of Sony Ericsson, though the numbers reveal that even improved sales of the PS3 this quarter can't sustain losses from core businesses like Sony BMG and fluctuating currency rates. Looks like the champagne will have to stay in the fridge this quarter.

[Olu O @ Jul 29th 2008 10:39AM]

It's profits, not revenue. Be glad you're at least making money and not losing it!

[Matthew Hilario @ Jul 29th 2008 12:45PM]

They just need Hancock the game. Great for kids.

[Eraxes @ Jul 29th 2008 5:07PM]

This is realy a good news, I hope and I pray to see the day that SONY is losing much money and close to bankrupt. This is requital of a demagogic company like SONY. lol

[NineT9 @ Jul 29th 2008 7:34PM]

huh? Sony has the new 007 coming, and thatll bring in a nice profit for them

[ishism @ Jul 30th 2008 3:52PM]

It's probably the fact that the dollar is dropping fast and inflation is rising, that all these companies are going under. Maybe the FED can now begin to bail out private corps at our expense. My kids can't wait to take on the national debt.

[Danakin @ Jul 29th 2008 10:39AM]

they need to get a hold of Christopher Nolan if they make a Spidey 4...3 sucked hardcore!

http://www.howitshouldhaveended.com/Divx%20links/Spiderman3.html

[Zeth Ethereal @ Jul 29th 2008 10:56AM]

funneh video lol

[KeegdnaB @ Jul 29th 2008 11:17AM]

that was amazing.....only problem is it didn't stop Kirsten Dunst's horrendous singing

[Alberto @ Jul 29th 2008 6:43PM]

Yeah, the simple fact that SM3 sucked...has nothing to do with it.

[Pochi @ Jul 29th 2008 10:42AM]

Hey, Sony. I know a quick way to make an extra $500. I've got it right here. Just re-release the 60GB PS3 with BC.

[CosterMonger @ Jul 29th 2008 10:47AM]

with MGS4!

[CosterMonger @ Jul 29th 2008 10:48AM]

and Dual-Shock 3

[High Ranks make you sterile @ Jul 29th 2008 11:00AM]

And waffles! Delicious waffles!

[Josh L @ Jul 29th 2008 11:17AM]

Weren't they selling those units at a loss?

I don't think they'd be making $500 so much as offsetting the loss incurred through manufacture (etc) by $500.

[Pochi @ Jul 29th 2008 11:42AM]

@Josh L

Do you really want to be that guy, Josh? Come on. Okay well, for your sake I'll rephrase!

Hey Sony, want to offsetting the loss incurred through manufacture (etc) by $500? Re-release the 60GB PS3!

[FreshJulius @ Jul 29th 2008 2:27PM]

Or take your $500 and buy a PS3 and a PS2...

[OneLove @ Jul 29th 2008 10:45AM]

That's what they get for trying to drain our pockets and having no vision.

[greg @ Jul 29th 2008 1:08PM]

thats what they get for trying to cram blueray down our throats.

[getStringFromObj() @ Jul 29th 2008 10:45AM]

what? Rolly hasn't contributed to the bottom line?

[LordGav1n @ Jul 29th 2008 10:48AM]

Add another MGS and Spiderman 4 and grab people's attention for a few days then go back to lower profits

[CosterMonger @ Jul 29th 2008 10:50AM]

scrap Ericsson, make PSPhone!

[Flashpoint @ Jul 29th 2008 10:51AM]

The Ps3 sorely dissapointed me as far as content goes. ITs a great piece of hardware but it pails in comparison to the 360 because SONY went cheap/stupid on the CPU and memory.


I think the 7th Generation Console war has blown its wad.
With MGS4, CoD4, Gears of War/2, Halo, Battlefield, Resistance,etc,etc showing us everything that the systems are capable of, I'm left feeling that there are very few major releases to look forward to on current hardware.

Its time for them to start hyping us up for the next console release.

And I pray to God CRYSIS will be a launch title.

[Lowest Ranked @ Jul 29th 2008 12:34PM]

Flashpoint,

I have finally figured out your exact age.

[phanbouy @ Jul 29th 2008 1:10PM]

^^^ priceless

[WarMouse @ Jul 29th 2008 3:33PM]

Good God, it's like a black hole of Engadget regulars.

[Timothy Sottek @ Jul 29th 2008 10:56AM]

Hit the Sony Ericsson point for MASSIVE DAMAGE!

[Skazer @ Jul 29th 2008 11:13AM]

That's kind of sad. Their MP3 player, digital camera, and laptop lines have recently been getting better and better. Sony really needs better marketing to succeed. They still have an image of "over-priced junk" even when their A200 DSLR is one of the cheapest available along with the best value.

[Brandon @ Jul 29th 2008 11:03AM]

Release new firmware that lets Linux to use all ps3 hardware directly and all the Linux user will buy it. And make it run OSX Tiger Power PC version!

[Josh L @ Jul 29th 2008 11:22AM]

So you want them to sell (slightly) more consoles (at a loss) while negating the only lucrative product for them (the games)?

You, sir, are a business genius.

But you do get bonus points for the xkcd avatar.

[twoboxen @ Jul 29th 2008 11:06AM]

how about they release the Xperia X1 which they announced EARLY Q1! Might not help their bottom line tons, but it would definitely get them some street cred... and me a new phone.

[Danny F. @ Jul 29th 2008 11:36AM]

Ericsson has had non stop problem with phone releases, It would be delays after delays, after delays...

By the time xperia x1 comes out most mayve have lost interest or newer phone from other smartphone manufacturers will have something better out or in the pipeline.. which sucks cuz I was really wanting a x1 like two months ago.... now Im not as hyped anymore.

[nate011 @ Jul 29th 2008 11:16AM]

Don't forget . . . Quantum of Solace is just around the corner. Casino Royale greatly revived the franchise. It should do nicely.

[Alex Padilla @ Jul 29th 2008 11:19AM]

Actually, I wouldn't pay a dime to go see Spider-Man 4. That jackass Sam Raimi shouldn't be allowed to go anywhere near the series. Marvel should reacquire the rights to the series and incorporate Spider-Man into "The Avengers" (Iron Man, Incredible Hulk, Thor, Captain America, etc).

I've digressed...Sony's up shit's creek with nowhere to go. Good luck, assholes.

[marques @ Jul 29th 2008 11:28AM]

how about the fact that everything they sell is overpriced. from the tv's to the ps3 all the way down to there umpc's. no one is buying there brand. over priceing things in a recession. what did they expect to happen?

[EliteBeatsAgent08 @ Jul 29th 2008 11:39AM]

+1

I just don't go to sony for anything. There the last company I think of when I'm on the prowl for new electronics whether they be toys or essentials.

[phanbouy @ Jul 29th 2008 1:12PM]

yeah but we get blatant knockoff brands like COBY!!!!1

[Johan S @ Jul 29th 2008 11:50AM]

Sony cant even release the Xperia X1 on time. I don't think they even realize they have hype around it. Does anyone here honestly think Sony execs read blogs?

They need to upgrade the PSP too .. they haven't done that.

Their company is run by MBA wielding executives. .. not by technologists with taste (contrast with Apple). Also, many of their divisions compete with each other and don't share technology .. which obviously only serves to dramatically worsen the problem.

[twoboxen @ Jul 29th 2008 12:08PM]

i was with you until "Also, many of their divisions compete with each other and don't share technology"...

I have a Sony Bravia and its interface matches that of the psp and ps3. FWIW that is pretty nice.

[tekdroid @ Jul 29th 2008 12:51PM]

Plenty of firmware upgrades to the PSP lately.

If you mean hardware upgrades (like the much-desired second analogue stick), consider the fragmentation that will cause and the fact that developers will still need to code to two separate devices (the 'have' and the 'have-nots').

Same goes for any other major change to the hardware like a touchscreen; still the need to target both devices. Major changes won't happen, IMO.

Firmware upgrades, I expect more of those, though.

[Maneki Neko @ Jul 29th 2008 8:28PM]

Funny, this post is cause for champagne coming out of the fridge for me.

[Justin @ Jul 30th 2008 2:23AM]

Why? Seriously, I'm curious. Are you just being as asshole, or do you have a legitimate reason to be emotionally invested in Sony as a company? I could understand that, if you were an investor, you would be happy when your stock goes up. But to break out the champagne for some company's drop in profits?

[Shaun @ Jul 30th 2008 6:16AM]

@Justin

For some people hating Sony is their life and they get a real kick out of it.
Like this guy:D

[digitallysick @ Jul 29th 2008 12:19PM]

I had a Sony Ericsson W810i it was good phone, i have an iphone now but i still miss that phone, i had unrestricted bluetooth, but the text messaging was slow. I wish it had a better camera, i eventually sold it , but it was over all good quality

[tekdroid @ Jul 29th 2008 12:44PM]

I wonder if it would be appropriate now to ask Sony for FLAC support and removable media and batteries in their non-phone Walkman range? ;)

When can we see something different in the Walkman range?

http://flac.sourceforge.net
http://www.sony.net/Fun/SH/1-18/h1.html

[phanbouy @ Jul 29th 2008 1:13PM]

"sourceforge.net" and Sony are not two things that have a lot in common

[tekdroid @ Jul 29th 2008 11:06PM]

Sony have supported FLAC in several pieces of their software already, so I see it as a logical progression, and they won't be paying any additional royalties for it. All they need to do is implement it.

[theefman @ Jul 29th 2008 12:45PM]

That'll learn 'em, payback for the rootkits they gave to the world! Sooner they go out of business the better.

[rufioh @ Jul 29th 2008 12:59PM]

Well this has cheered me up a bit after I decided to torture myself by comparing the US and UK starting prices for the Vaio Z - $1799 versus £1233.19 plus VAT. That's about £325 extra in the UK.

The only reason I seriously considered buying one was that they sabotaged the SR by removing HDMI.

My ill wishes have paid off it appears.

[Technex @ Jul 29th 2008 1:47PM]

This news made me happy, I hope the next one is "Sony goes out of business"

Crappy products, cheaply made crap.

[Jamus @ Jul 29th 2008 2:26PM]

Bah! Sympathy for the devil if you ask me...
Drop that damned PS3 to $199 and watch the sales fly. Sure they will take a hit, but at the price they charge for games and accessories (and dare I mention the inflated BluRay movie disc prices?) they are sure to make some of it back.