Games Thirst – Amazing Life
Sony’s first earnings report of the new financial year came through with a profit, small as it is.
The $35 million net profit is an improvement from last year’s results for the same period, and the good news is most evident in its Mobile Products & Communications department. There, revenue grew 36 percent from last year, partially due to changes in the value of the yen, but also thanks to higher sales for smartphones (9.6 million units), and a higher average selling price.
The Company’s games division recorded an operating loss for the quarter, as sales of the PS3, PSP and PS2 dropped slightly but it was spending on R&D for the upcoming PS4 that was to blame the most, as spending there rose sharply: 322 percent.
Sony’s new TV strategy also seemed to have yielded some results, with year-on-years sales up 18.2 percent which was attributed to an “improved product mix in LCD TVs” and cost reductions.
So overall the electronics giant is on the right path. Keep it up, Kaz.
