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Sony posts $458M fiscal 2012 net profit, forecasts 5M portable sales in fiscal 2013


Sony had a net income for fiscal 2012 (ending March 31 2013) of ¥43 billion, which converts to $458 million. It's the first time the company's posted annual net profit since 2008. A far better situation than the company's $456.7 million loss last year.

As the company predicted following several cost-cutting measures across the previous year – including the sales of major buildings in Tokyo and New York, as well as thousands of layoffs - Sony posted an operating profit for the fiscal year, which came in at ¥230.1 billion ($2.45 billion).

Sony shifted 3.4 million PS3 and PS2 units across the last quarter, while the Vita and PSP came in at 1.3 million. Sony's fiscal year figures were in line with projections made last quarter, with the home consoles at 16.5 million and the portables at 7 million.

However, the portables' figures compare unfavorably with the company's initial estimate for the year, which was 16 million. Sony is being much more cautious for the fiscal year ending March 31, 2014, predicting only 5 million units in what's approximately the Vita's second year at retail. PS3 figures are estimated at 10 million, while Sony chose not to include PS4 projections.

The PlayStation division saw 12.2 percent year-on-year decline in sales, coming in at ¥707.1 billion ($7.52 billion). Operating income saw a much sharper drop, down 94.1 percent to ¥1.7 billion, or $18 million. Sony put the declines down to decreased hardware sales, as well as the "strategic price reduction" for the Vita in Japan earlier this year.

One area where growth is predicted is software, even without including the PS4. Sony projects an increase from the 266 million units sold in fiscal 2012 to 319 million (including digital units).

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