PS3, Vita sales falter as we await the PS4

Sony's financial improvement continued in the first quarter of 2013, with the company posting a net profit of ¥3.5 billion ($35 million) for the three months ended June 30, 2013. Despite the modest profits, most of which can be attributed to favorable currency exchange, sales for the PlayStation division were "essentially flat."

For the quarter, Sony's Game division recorded revenues of 117.9 billion yen ($1.2 billion). Sony sold just 1.1 million PS3 and PS2 units combined. Handhelds fared even worse with the PS Vita and PSP combining for just 600,000 units sold. Despite the decrease in unit sales for the quarter, Sony remains confident that it will reach its target of 10 million PS3 and PS2s and 5 million Vita and PSPs sold during the fiscal year (ending in March 2014). That could pose quite a challenge with the PlayStation 4 due out this holiday season, but the PS3 still has several big titles still to come (Beyond: Two Souls, Kingdom Hearts 1.5 HD ReMIX) which could help increase sales.

Speaking of the PlayStation 4, research and development on Sony's next-gen console was primarily responsible for a sharp increase in the PlayStation division's operating losses, which rose to ¥14.8 billion ($149 million) in Q1.

Will the PlayStation 4 rescue the slumping PlayStation division?