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.

International News Chelsea boss unhappy with Willian 4 hours ago
However, the Brazil worldwide is now set to report back to Cobham to begin his preparations for the new Premier League season. Sarri also confirmed he would speak to Willian about a passport issue which has reportedly delayed his return.

"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.

Related Articles

  • SpaceX Will Be Ready to Transport Humans in April 2019, NASA Estimates

    SpaceX Will Be Ready to Transport Humans in April 2019, NASA Estimates

    It'll be equipped with four windows providing astronauts with breathtaking views of the Earth, our moon and the solar system. If this second test is successful, Boeing will launch Spacecraft 2 along with its first passengers toward the middle of 2019.
    Carr Fire: What we know Thursday

    Carr Fire: What we know Thursday

    Neighbouring wildfires have had similar effects to the Carr fire , evacuating people from the locality and destroying properties. Smoke rises above Clear Lake as the River Fire ( Mendocino Complex ) burns near Lakeport, California, U.S.
    Ohio's back to school tax-free weekend approaches

    Ohio's back to school tax-free weekend approaches

    Louisiana's Department of Revenue estimates the sales tax holidays would have cost the state $5.2 million in taxes this year. Mississippi's was last weekend, while Arkansas' is schedule Saturday and Sunday and Texas' is scheduled August 10-12.
  • India raises key interest rate for second time to stave off inflation

    India raises key interest rate for second time to stave off inflation

    But despite the Bank's optimistic outlook, we think policymakers will find it tricky to hike rates again before Brexit. Reports suggest that it is for the second time that the RBI has increased the interest rates by 0.25%.
    Apple becomes world's first trillion dollar company

    Apple becomes world's first trillion dollar company

    So maybe in 50 years, we'll all be living in houses we bought from Amazon and filled with Google , Apple and Microsoft products. Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed United States company.
    Chipotle Shuts Down Ohio Restaurant After Reports Of Illness Outbreak

    Chipotle Shuts Down Ohio Restaurant After Reports Of Illness Outbreak

    "We acted quickly and closed this single restaurant out of an abundance of caution yesterday", the company said in a statement. A Chipotle restaurant in OH has reopened as officials investigate reports of illnesses linked to the location.
  • Trump's EPA formally launches rollback of fuel economy standards

    But Trump's EPA said the efficiency rules drive up vehicle prices, keeping many people in older, less safe cars and trucks . No suit would likely be filed, however, until at least after the 60 day public comment period on the rule proposal expires.
    National Archives may not finish reviewing Kavanaugh documents before end of October

    National Archives may not finish reviewing Kavanaugh documents before end of October

    The GOP statement said the committee was counting on receiving documents "in an even more rapid fashion" from the archives of the George W.
    Huawei Launches Honor Note 10 With A 7 Inch Screen

    Huawei Launches Honor Note 10 With A 7 Inch Screen

    This phone could also be expected to have vertically-stacked dual-rear cameras, though their specifications are not known yet. One thing the phone lacks is a 3.5mm headphone jack is the first time we have a flagship from Honor with no headphone jack.
  • Israel 'thwarts IS attack' on Golan Heights

    Israel 'thwarts IS attack' on Golan Heights

    Before the civil war erupted in 2011, the cease-fire line between Syria and Israel was largely quiet for years. The incident took place on the southern Golan Heights, near the triangle of Syria , Jordan and Israel borders.
    White House chief of staff to stick around for now

    White House chief of staff to stick around for now

    Today we celebrate his first full year as @WhiteHouse Chief of Staff! But Trump has chose to stick with Kelly - for now, at least. It's a one-man show and no one is getting in the way of Trump's delusion that he's nailing it on a daily basis.
    Judge Issues Temporary Restraining Order Blocking 3D-Printer Guns

    Judge Issues Temporary Restraining Order Blocking 3D-Printer Guns

    Wilson said in an online video that the blueprints were downloaded more than 400,000 times before they were taken down in 2013. President Donald Trump has questioned whether his administration should have agreed to allow the plans to be posted online.