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Sega Sammy's Quarterly Losses

Sega Sammy's quarterly financials show losses the Japanese entertainment conglomerate blames on "generally weak" video game demand in the U.S. and Europe, reports Gamasutra. Word is: "Net revenues in the consumer business segment of the company (which includes home video games as well as toy sales) were down 22.3 percent year-over-year for the quarter, to 16.2 billion yen ($207.2 million), contributing to an operating loss of 3.9 billion yen ($49.9 million) for the segment, a loss increase of over 500 percent from last year." Looking forward, the company states it needs to adapt to conditions where "demand for new content geared to social networking service and smartphone is expanding."

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