Strong PlayStation 4 software sales boost Sony's game segment

Sony said Thursday that strong PlayStation 4 sales in the three months ended September 30 helped offset losses in other areas of the company.

The PlayStation 4’s continued solid performance shows how Sony’s console-centric video game business remains relevant in a time when games on newer, emerging platforms like smartphones are reaching expanded audiences.

In Sony’s game and network division, the company reported a 17 percent year-on-year increase to 360.7 billion yen ($3 billion) for the quarter. Operating income in the game segment was up 10 percent to 23.9 billion yen.

“This significant increase [in revenues] was primarily due to an increase in PS4 software sales,” Sony said in an earnings release. The company also attributed the increase to favorable foreign exchange rates, and noted that slower PS3 software sales detracted from some of PS4’s gains.

Sony also noted that PS4 helped offset "signifcant" decreases in Sony's smartphone business.

PlayStation 4 hardware sales are north of 25 million units, Sony said recently.

Across all of its businesses, Sony reported quarterly sales were down half a percent to 1.9 billion yen. Net income for the period was 33.6 billion yen, an improvement over the 136 billion yen loss from the same quarter a year prior.