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Sony Loses $312m In Last Quarter On Weak Gaming And Mobile Sales

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Sony made a big loss in the last three months of the year | Alamy

Add Sony to the growing list of tech companies that aren't making money.

The Japanese giant announced that it lost $312m in the last three months, on sales of $19.2bn.

Sony said that while sales increased year-on-year, by around 1.4%, it lost money overall due to restructuring costs, weak gaming sales and disappointing revenues from its entertainment division.

The company said that it spent $143m on the restructure, and added that it now expects to make $1.66bn this year as opposed to initial projections of $2.29bn.

READ MORE: Sony's Earnings In Full

Gaming was a low point of this quarter's results. As popular as the PS3 has been historically, the PS Vita handheld has been a sales disappointment and with the next gen consoles looming gaming as a whole has slowed for Sony - making a $45m loss. Overall gaming sales fell by 14.5%, Sony said.

"Sales are expected to be essentially flat and operating income is expected to decrease significantly year-on-year," it added in the earnings announcement.

Meanwhile its home entertainment and mobile divisions also made losses, but its imaging (camera) division made a healthy profit.

Elsewhere tech giant Sharp also announced a big loss of $1.2bn on weak television sales.