Sony's profits fall due to low PS3 and Vita sales

Sony has released its financial results for the fiscal year 2013, revealing a sales decrease of 12.2% year-on-year.

This is mainly due to the low sales of the PlayStation 3 and PSP, while the PS Vita still continues to struggle worldwide.

16.5million PS3's and PS2's were sold during the year, while 7million PSP's and Vita's were purchased.

Altogether profits for Sony's gaming division dropped to 1.7billion Yen, down from 29.3billion Yen last year.

However it's a positive achievement for Sony to even remain in the black at all this year, considering the cost of developing the new PlayStation 4.

"Sales are expected to increase significantly primarily due to the planned introduction of the PlayStation 4 in the fiscal year ending March 31, 2014," said Sony.

"Operating income is expected to be essentially flat year-on-year primarily due to an increase in research and development expenses and marketing expenses related to the introduction of the PS4, offset by the impact of the above-mentioned increase in sales."

Estimates for the Vita remain modest though, with only 5million PSP's and Vita's expected to be sold over the next year.

No numbered predictions were given for the performance of the PS4.