The world’s economy is not exactly in the best of shape at the moment these days (and it has been that way for quite some time already), and we have seen companies reduce expenditures and overhead through cost cutting measures such as laying off people as well as trimming their inventories. Sony’s cost cutting campaign over the course of the past few months allowed the Japanese consumer electronics giant to reduce their losses for Q2 in its current fiscal year by nearly 50% to $194 million, which allowed it to remain on track to meet its full-year forecast of ¥20 billion in annual profit.

As a result of the hard times that Sony has fallen upon recently, they also trimmed their annual unit sales forecast across multiple divisions – gaming included. Sony has decided to cut its full-year handheld hardware sales estimate not for the first time, but for the second time in 2012 to just 10 million units, where its previous trimming of its annual handheld sales forecast was already reduced to 12 million from 16 million units in August. Will you be picking up a Sony console – handheld or otherwise in the coming holiday season?

Filed in Gaming. Read more about Sony.

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