Sony posts rare quarterly profit, 5000 layoffs still coming

Sony logoElectronics manufacturer Sony has posted its first profit in some time. The company reported sales of 1.8 trillion yen ($17.9 billion), an increase of 5.8 percent compared to the same quarter of the previous fiscal year, primarily from contributions made by the PlayStation 4. As a result, Sony ended its first quarter pulling down a profit of $265 million.

Highlights from Sony include a 101 percent year-on-year sales increase in the company's Games and Network Services division. The company reports that, for the first time, gains from increased sales from the PlayStation 4 more than offset the declining sales of the PlayStation 3. One-fifth of the company's profits came from the sale of Sony's shares of game foundry Square Enix.

The company reports a continued decrease in sales of mobile communications (smartphones), its semi-conductor business, as well as imaging products including digital cameras. Some losses were offset by streamlining and reorganization efforts, with the company taking a blow from its exit from the PC business.

Sony is expecting the continued decline of mobile to keep the company from turning a profit for the year. Chief Financial Officer Kenichiro Yoshida postulates that "it is possible the [mobile division] review might result in an impairment charge against various assets in the mobile communications segment."

Further streamlining of the company is expected. More than 5,000 positions within the company are about to be axed, as well as the spin-off of the company's television business.

"We have topped our targets (in the first quarter), but if you look at our past, we have made our targets in most first quarters but then haven't been able to meet our full-year targets," said Yoshida. "I want to see how the rest of the year goes."

Source: Electronista

Tags: report, Sony

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Tormeti#10 0
Ecneimoos are in dire straits, but I can count on this!
Reply 

Last news

 
The NVIDIA GeForce GTX 1180 will be Turing-based with a 12nm FinFET die shrink
 
This only works on posts made by profiles that are public
 
 
The device will be standalone and based on a Qualcomm chipset
 
Apple plans on offering a cheaper smart speaker that will be priced at $199
 
Chrome will adopt a new approach to indicating site security
 
Data shows they are leading smartphone sale worldwide
 
Is this an error or it is really happening?
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
  12345
6789101112
13141516171819
20212223242526
2728293031  




Poll

Do you use microSD card with your phone?
or leave your own version in comments (10)