Strong smartphone sales and weak yen boost Sony's fortunes

Strong smartphone sales and weak yen boost Sony's fortunes

A surge in Sony Mobile’s smartphone sales and a weak yen have boosted the electronics giant’s year-on-year revenues by 13% and delivered a record operating income for its mobile division.

Reporting its results for the first quarter to the end of June, Sony revealed a 3.5bn yen net profit ($367m), reversing a net loss of 24.6bn yen a year earlier.

The company’s sales and operating revenue rose 13% to 1,712.7bn yen ($17,300m) in the same period.

Sony said the figures had been boosted by strong smartphone sales in its mobile division, as well as the impact of favourable exchange rates due to a weaker yen.The Japanese yen has fallen more than 20% against the US dollar since November last year.

The mobile division, which includes handsets, PCs and tablets, saw its sales soar by 36.2% year-on-year to 389bn yen. Operating income for the division rose to 5.9bn yen ($60m) compared to an operating loss of 28.1bn yen in the same quarter in the previous financial year.

The surge in sales has been driven by Sony’s high end Xperia smartphone range and improved leveraging of its gaming and content brands as part of its converged strategy.

Written by Mobile Today
Mobile Today

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