News Worms
News Worms

PlayStation sales rose 5.4% in Q1, but operating income dropped by 59.7%

PlayStation sales rose 5.4% in Q1, but operating income dropped by 59.7%

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

Japanese consumer electronics maker Sony Corp.

"Sales increased 5.4% year-on-year (a 4% increase on a constant currency basis) to 348.1 billion yen". Sony even took a almost $1 billion writedown at its movie unit past year.

Home entertainment products benefitted from a shift toward high-end TV models with better margins. While things are looking good but, Sony revealed that Operating Income dropped significantly compared to the same period last fiscal year.

Sony's fiscal first quarter profit almost quadrupled from a year earlier, boosted by its lucrative image sensor and other businesses and highlighting a gradual recovery at the Japanese electronics and entertainment company. The company said the PlayStation VR headset continued to sell well, but did not release figures. He laid out a three-year plan to lift the operating profit to 500 billion yen by 2017.

The Tokyo-based tech giant also said its operating profit had risen nearly threefold in the recording period to 157.61 billion yen, up 15.2 percent and based on sales of 1.86 trillion yen. The company said its music catalog between Sony/ATV and EMI had grown to 4.49 million songs, versus 4.21 million songs by the end of its prior fiscal year.

Hirai took over in April 2012 after a disastrous fiscal 2011 that saw the company post a net loss of 456.6 billion yen.

Sony's game segment sales accounted for 18.75% of Sony's total sales revenues for the quarter.

The surge in profit reflected the recovery for image sensors from damage from an quake sustained past year, said the company.

"The volume of smartphone shipments may not grow", Yoshida said, "but the quality of smartphones will continue to improve as they become an essential piece of social infrastructure in countries like China".


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