Compared to this time last year, Sony is showing signs of recovery. In the second quarter last year the firm reported $785 million net loss, alongside a $1.5 billion write off for the mobile division.
Consolidation has been the key for Sony in mobile, lowering the amount of products launched and produced this year significantly. That has led to a 15 percent decrease in mobile revenue, down to $231 million. The division is still unprofitable, reporting a loss of $172 million this quarter, but that is a lot better than the $1.5 billion it had to suffer in 2014.
Sony confirmed earlier this month that it would not sell the mobile division, but other reports claimed that a lack of profitability next year might force the company to change its tune. Chief executive Kazuo Hirai refuted the possibility of Vaio-style sale anytime in the near future.
Outside of the mobile business, Sony continues its upward trend. The entertainment sector reported $3 billion in revenue — a 16.5 percent year-on-year growth — alongside $199 million profit. PS4 game sales were the main contributor to the revenue growth.
In the components sector, Sony reported $1.5 billion revenue and $215 million in profit. Sales are up 4.1 percent year-on-year, but the real shocker is the 29 percent profit growth in the sector, fueled by the company’s popular 21-megapixel camera and being the main supplier of Apple’s iSight camera.
Similar to most in the industry, Sony is struggling to keep investors excited about its mobile business, when it could be focusing time on more profitable sectors. Nokia, in contrast, sold its mobile business to Microsoft in 2013 and has been showing large profits ever since.
Editors' Recommendations
- How to watch Sony’s February State of Play and what to expect
- The Last of Us: Part 2 reportedly delayed weeks after release date announcement
- Some future Sony exclusives could be released on PC as well
- Sony patent for PS5 could eliminate loading screens altogether
- Sony is planning cross-generation gameplay between PS4 and PS5
