Strong smartphone sales buoy latest Sony financial results

SonySony today reported its Q2 FY2013 financial results. Overall, the company reported revenues of ¥1,775.5 billion yen (about US$18.1 billion), resulting in profits of ¥14.8 billion (US$151 million). While revenues were up about 10% year-over-year, profits tumbled more than 50% due to a “significant decline in operating results in the Pictures segment.” That decline was partially offset by the performance in its Mobile Products & Communications (“MP&C”) segment thanks to strong sales of smartphones.

Sony Q2 FY2013 financial results

Sony’s MP&C unit saw sales increase 39.9% year-over-year to 418.6 billion yen (4,271 million U.S. dollars). While favourable exchange rates helped, Sony also reported “a significant increase in unit sales of smartphones and an increase in the average selling price of smartphones.” In fact, it sold 10 million Xperia smartphones this quarter, up from 8.8 million the same quarter a year ago and 9.6 million the previous quarter. In particular, the Sony Xperia Z was well received and apparently “ranked in the top 3 in approximately 20 countries by revenue.”

Sony also expects smartphone sales to “increase significantly” over the upcoming quarters. With the Xperia Z1 and Xperia Z Ultra, Sony is well positioned to continue establishing itself as a strong player in this competitive arena.

Source : Sony