Wednesday, April 24, 2024

Sony records $205 million profit in Q2 2016, mobile unit finally in the black

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Sony has posted its financial results for the quarter ending in June, announcing a modest $205 million (¥21.2 billion) operating profit. That’s down from the $780 million (¥84.2 billion) recorded during the same period last year. One of the company’s image sensor factories was affected by an earthquake earlier this year, leading to an overall revenue decline of 11% to $15.6 billion (¥1.61 trillion).

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Sony’s mobile unit saw a 33% decrease in sales, with the division netting a revenue of $1.8 billion (¥185 billion). However, Sony’s decision to focus on the high-end segment has paid off, as the mobile business turned in a modest profit of $4 million (¥400 million). During the same period last year, the mobile unit recorded a $188 million loss.

The company’s image sensor division recorded a revenue of $1.18 billion (¥122 billion). Sales declined by 25%, leading to a massive hit in profits to the tune of 57.7% to $73 million (¥7.5 billion). The game and network services unit — which includes the PlayStation and digital game sales — saw profits soar by 126% to $426 million (¥44 billion) over revenues of $3.2 billion (¥330 billion).

In the home entertainment segment, Sony was able to offset a 6.8% decrease in sales by focusing on high-end TVs and reducing running costs, which led to a profit hike of 85.3% to $197 million (¥20.2 billion).

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