It looks like the gamble of investing major money into virtual reality gaming has payed off– at least for Sony’s PlayStation VR.
In Sony’s Q2 FY2016 Consolidated Financial Results, the successes and failures for each of Sony’s departments are laid out. The Game & Network department for the 3 months preceding September 30 were hugely profitable, though slightly less so than the previous quarter. A lot of this was the market preparing for the release of PlayStation VR and PlayStation 4 Pro.
Importantly, in giving this explanation, the report states that “The sales of PS VR, which was launched in October, are on track.”
The full rundown on the Game & Network report can be found below:
“Sales and operating income for the current quarter decreased year-on-year, and 19.0 billion yen of operating income was recorded. The year-on-year decrease in sales was mainly due to the appreciation of the yen. The current quarter was a period during which our hardware was changing due to the launch of a new model of PS4 in September. The year-on-year decrease in operating income was primarily due to the price cut of the new PS4 model. The negative impact on operating income of the price cut was partially offset by continued cost reductions, but operating income for the segment decreased due to the residual impact of decreased PS3 software sales. However, the strong momentum of the business continues, as is shown in the 31% year-on-year increase in network revenues. The sales of PS VR, which was launched in October, are on track. Furthermore, this month, we plan to launch the PS4 Pro, a high value-added model. Our operating income forecast for this fiscal year remains unchanged.”
PlayStation VR is available now.