11/1/2012 10:10:55 AM
Sony posts small operating profit with sales up in mobile
Sony has reported a small operating profit, with a 'significant' increase in sales in its mobile phone division.
The electronics manufacturer's bottom line was boosted by insurance claims from last year's floods in Thailand and the sale of a chemical products business. Its operating profit was ¥30.3bn (£240.2m) for the three months to 30 September, compared to a loss of ¥1.6bn (£12.7m) last year.
Sales in its mobile products and communications division, which includes PCs as well as mobile phones, were boosted by 112.1% thanks to the consolidation of its mobile business from its former joint venture with Ericsson. Sales were ¥300.4bn (£2.38bn). Sony said on a like for like basis, sales would have been flat although higher handset sales and high average selling prices were offset by significantly lower sales in PCs. The division's operating loss increased by ¥17.0bn to ¥23.1bn (£183.2m), which Sony said was due to the impact of lower PC sales and the consolidation of Sony Mobile.
Sony is undergoing a restructure of its mobile business, cutting 15% of the workforce and moving its head office from Sweden to Japan. The manufacturer reiterated its prediction that it was set for a ¥130bn (£1.0bn) loss at the end of its current financial year.
Editor: Graeme Neill