THQ (NASDAQ: THQI) has revealed its THQ Wireless division generated $1.7 million of revenues during its third quarter, for the three months ending December 31, 2010.

This compares to sales $2.3 million in Q3 2009, a decline of 25 percent.

Nine months mobile games sales were $4.7 million, down 48 percent compared to the same period in FY10.

Dropping fast

THQ also saw handheld sales down heavily. Sales of DS games during Q3 were $49 million, down 35 percent. PSP games sales were $13 million, down 47 percent.

Overall, the company had Q3 sales of $315 million, down 12 percent year-on-year.

It made a net loss of $14.9 million, compared to a profit of $542,000 12 months ago.

The company ended the period with cash, cash equivalents, short-term investments and accounts receivable of $206 million.

[source: THQ]