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Published: Tue, August 01, 2017
Tech | By Dwayne Harmon

PlayStation 4 Ships 63.3 Million Units by June 30th, 2017

PlayStation 4 Ships 63.3 Million Units by June 30th, 2017

For the April-June quarter, the company's net profit was 80.9 billion yen ($734 million), up from ¥21.2 billion a year ago, Sony said on Tuesday.

Operating income was 157.6 billion yen or $1.41 billion from 56.2 billion yen a year ago. The Minato, Tokyo-based conglomerate said that its sensor business is the biggest factor that benefitted its recent performance, having recovered from a massive natural disaster that it suffered through in 2016.

The maker of PlayStation game consoles and software titles said a weaker yen is expected to boost revenue from overseas sales, as profits and competitiveness are boosted when the yen is weaker than its competitors and repatriated at favorable exchange rates.

The results are bound to please investors, who last week drove Sony's shares to a year-to-date high, betting that annual operating profit will eclipse the record 525 billion yen marked in fiscal 1997.

The Japan-based conglomerate, renowned for making the first portable cassette player during the 1970s, has gone under a restructuring recently as competition in prices for its consumer electronics division dragged profit growth down.

Quarterly sales gained 15 percent to 1.86 trillion yen ($16.9 billion).

Also helping Sony's bottom line was the absence of the damage it suffered from the April 2016 natural disaster in southwestern Japan that shut down its semiconductor plant, and gains from insurance recoveries related to that quake, it said.

Operating income decreased 26.3 billion yen year-on-year to 17.7 billion yen. Sony Interactive Entertainment shipped 3.3 million units during the latest quarter (which is a slight drop year-on-year, from 3.5 million in the same quarter of the past fiscal year).

However, Sony cut its sales outlook for the full year for its sensors, issued one quarter ago, by nearly 3% as phone makers in China shift from building handsets that are high end that Sony has typically targeted. Income decreased significantly due to the lack of any highly profitable first party game launched during the quarter.

Sony, however, is still on track to post its best annual profits in about two decades. TVs had in the past been one of Sony's largest liabilities, losing the company 800 billion yen in the 10 years through fiscal 2013.

"Shipments of CMOS sensors are strong", he said, referring to components for smartphone cameras.

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