Someone at Sony is probably listening to the Carter Family belt out "Keep On the Sunny Side" after having to report to investors (PDF) a $315 million net loss during the company's first fiscal quarter ended June 30, 2012, but as it turns out, maintaining a positive outlook is no easy task. In fact, Sony's financial outlook for the full fiscal year is the exact opposite. In pretty much every sector of business, Sony expects business to be lower than previously forecast, and in terms of portable hardware (think PS Vita), Sony expects "significantly lower" sales than what was being forecast in May.

For those of you holding your breath waiting for Sony to announce a PlayStation 4 console and hoping good news would come at CES, take a moment to suck in some air and replenish your lungs. There will be no such announcement at the convention in Las Vegas, and it doesn't look like Sony will be unveiling a next generation game console at E3 later this year, either. So when will we see a PS4?

Sony found itself scrambling to explain away early complaints lodged against its PlayStation Vita handheld console and quickly denied there exists a widespread issue of any kind. Not quickly enough. Following a flurry of sales during its first two days of sales in Japan, interest in the PlayStation Vita appears to have dropped sharply.