Arab Today, arab today sony swings to 195bn net profit
Last Updated : GMT 06:26:12
Arab Today, arab today
Arab Today, arab today

As PlayStation sales soar

Sony swings to $1.95bn net profit

Arab Today, arab today

Arab Today, arab today Sony swings to $1.95bn net profit

Sony says net profit came in at 236.1 billion yen ($1.95bn)
Tokyo - Arab Today

Sony on Friday posted a nine-month net profit of almost $2.0 billion, as strong sales of its PlayStation video games console and image sensors found in mobile gadgets help it move past years of losses.

The once-iconic Japanese giant has been working to claw back to profitability under a painful restructuring that has included layoffs and asset sales, including its Manhattan headquarters and laptop division.

The company, along with rivals Panasonic and Sharp, has struggled in the consumer electronics business that built its global brand, including losing billions of dollars in televisions over the past decade.

The sector has faced fierce competition from lower-cost rivals from South Korea and Taiwan.

In a sign things are on the upswing, Sony said Friday its net profit came in at 236.1 billion yen ($1.95 billion) for the April-December period, reversing a 19.2 billion yen loss a year earlier.

Operating profit more than doubled to 387.1 billion yen, while sales edged up 0.1 percent to 6.28 trillion yen.
"This was primarily due to the significant increase in sales in the game and network services segment and the impact of foreign exchange rates, substantially offset by the significant decrease in sales in the mobile communications segment," it said.

In November, Sony announced that sales of its PlayStation 4 video game consoles topped 30 million units worldwide.

The unit has seen the fastest and strongest adoption since the first generation of the video game console was introduced in late 1994.

On Tuesday, the company said it was moving its PlayStation business to Silicon Valley and consolidating its game console offerings under one roof.

Sony also bought Toshiba's image sensor business which could boost its position as a global leader in the components which are found in smartphones and other mobile devices.

On Friday, Sony said it was still on track for a 140 billion yen full-year net profit.
"Sony is now on the final stage of its restructuring," said Rakuten Securities analyst Yasuo Imanaka.

"The TV business is being revived as the company focuses on high-end products. Sales of image sensors and PS4 consoles also remain strong, offsetting losses in mobile phone businesses."

But Yasuo Nakane, senior analyst at Mizuho Securities, warned that the company still has more work to do.

"Sony has been changing dramatically over the past couple of years," Nakane added.

"However, its restructuring isn't over. There is room for more change in mobile communications, the movie sector, at headquarters, and in its battery businesses."

Sony's businesses include a music label and Hollywood studio, while it also operates a profitable but lesser-known financial unit.

Rivals Panasonic and Sharp report their latest earnings next week.

Panasonic's results have been improving as it focus on its lesser-known endeavours, including energy and an auto division that makes various products found in vehicles, from electrical components to car navigation systems.

Sharp, however, continues to struggle and has repeatedly appeared on the brink of bankruptcy in recent years.
Source :AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sony swings to 195bn net profit Arab Today, arab today sony swings to 195bn net profit

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 13:35 2017 Friday ,17 February

Confirms Britain is biggest investor in Egypt

GMT 15:55 2017 Thursday ,16 February

Egyptian foods completely unobserved nor healthy

GMT 11:18 2017 Wednesday ,15 February

Reveals plan to get out of financial crisis

GMT 12:33 2017 Tuesday ,14 February

Yemeni accuses militias of challenging oil

GMT 18:07 2017 Monday ,13 February

Over 3000 workers lost their jobs

GMT 17:57 2017 Sunday ,12 February

Seeks to achieve growth of about 30% in 2017

GMT 14:05 2017 Saturday ,11 February

Stresses Increase prices not surprise citizens
View News in Arabic - Business: أخبار الاقتصاد
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday