Published: Tue, August 01, 2017
Hi-Tech | By Ellis Neal

Sony Apr.-June net profit almost quadruples on semiconductor recovery

Sony Apr.-June net profit almost quadruples on semiconductor recovery

Revenue also increased in the game and network services business, which includes the popular PlayStation console and software titles. The flagship title went on to become the second-best selling title of the year.

Electronics and entertainment giant Sony said Tuesday its net profit almost quadrupled in the three months to June, backed by brisk sales of smartphone components and cameras and solid revenue from its game business.

For the April-June quarter, Sony's operating profit almost tripled from a year before to 157.6 billion yen ($1.43 billion), a record for the first quarter.

Sony is on track to record its highest annual profits in 20 years. Sony even took a almost $1 billion write-down at its movie unit a year ago.

"Games business was revised up because PS4 sales are still strong and Xbox One X, with its high price, is seen less of a threat", Dai said, referring to Microsoft Corp.'s recently unveiled new console. Notably, Sony Interactive Entertainment predicts to ship 18 million units, which means that the company expects lifetime PS4 shipments to reach 78 million by the end of March. In 2012, Hirai identified three markets that he wanted to focus on: digital imaging, gaming and mobile.

It retained projections for net profit of 255 billion yen, more than triple that of the previous year when it wrote down the value of its US film business, while operating profit is expected to surge 73.2 percent to reach the 500 billion yen goal. Sony's semiconductor division, which includes image sensors, posted an operating profit of 55.4 billion yen, reversing the year-earlier loss of 43.5 billion yen, as operations at a key plant fully resumed to meet brisk demand for image sensors for smartphones. Sales were up 15.2 percent to 1.86 trillion yen.

The consumer electronics business was also profitable as it focused on high-end television sets and smartphones without seeking to increase in scale. Nevertheless, analysts said the firm is yet to find long-term drivers of growth.

Like this: