Sony Gaming Division, Sale of Camera Module Unit Help Maintain Profitability

Sony Gaming Division, Sale of Camera Module Unit Help Maintain Profitability

Sony's semiconductor division - the beneficiary past year of a unit sale and insurance payouts - saw profit nearly half to 29.1 billion yen.

Sony raised its sales forecast 3.6 per cent for the fiscal year ending March 31 to 8.6 trillion yen, largely on an upward revision to PlayStation 4 software and hardware sales.

The Japanese electronics and entertainment giant said group net profit for the quarter to June 30 almost tripled from a year earlier to a record 226.45 billion yen ($2 billion), helped by a special profit from the sale of shares in Swedish streaming giant Spotify Technology S.A.

The electronics and entertainment giant now forecasts 500 billion yen ($4.5 billion) in net profit for the fiscal year to March 2019, up from its earlier estimate of 480 billion, in what would be a record profit for the second straight year.

The figures are Sony's first quarterly results under new chief executive officer Kenichiro Yoshida, who replaced Kazuo Hirai in April.

"The Yoshida team got off to a flying start", said Hideki Yasuda, an analyst at Ace Research Institute in Tokyo. Sony recorded a one-time gain of 53.9 billion yen from the sale and said its remaining shares have a fair value of 95.3 billion yen.

India asks 4 million to prove their nationality in northeast
The first version of the list, which is being prepared under the supervision of the country's Supreme Court , came out in December.

"For Nintendo Switch, hardware sales in every region have been trending upwards since the video game expo, E3, was held in the United States in June", the company said in a statement.

In May Sony unveiled a $1.9-billion deal to buy industry titan EMI Music Publishing.

However, given the good results, Sony now trusts that it will be able to reach the 96 million units of consoles sold. That gain came from the sale of Sony's camera module unit and the receipt of insurance payouts for quake damage.

As we get closer to the end of the generation, it's obvious console sales start to reduce over time, but it looks like Sony doesn't really worry about that, also thanks to a very strong software lineup coming in the a year ago of PS4's lifecycle.

Quite surprisingly, 20 million of those sales occurred in the company's last financial year, firmly reminding other competitors (such as Nintendo (OTC:NTDOY)) that Sony is still king of the gaming world.

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