Sony pulls a profit for first time in two years

Sony has reported an operating profit of $370 million for the quarter ended June 30th, thanks to a weakening yen and stronger sales of its hardware.

Xperia smartphone sales increased strongly during the quarter and after years of a stronger yen, the currency weakened allowing for a cut in costs and a boost from overseas sales.

The company did acknowledge that market conditions for consumer electronics remain tough, and they cut sales targets for TVs, PCs and video cameras. "We were able to achieve adequate (first-quarter) results but I'm not necessarily optimistic about the future," Chief Financial Officer Masaru Kato added.

Sony's struggling TV business had the best turnaround due to streamlining of products and cost cutting, moving into a profit for the first time since 2010. The company expects the PlayStation division to fall back into the red this year, as well, due to the high development costs of the upcoming PS4.

Written by: Andre Yoskowitz @ 1 Aug 2013 8:58

ivymike

I'm disappointed.

I thought people knew better than to buy $ony products...

2.8.2013 00:59 #1

omegaman7

Originally posted by ivymike: I'm disappointed.

I thought people knew better than to buy $ony products... I certainly know better. I snicker when ever I see their name in the store. Vote with your wallet people! ;) I won't be buying a PS4. Didn't buy a PS3, when I learned of their shoddy business tactics. I however cannot convince my little bro to not buy the PS4. That however is the only $ony product he'll buy :)

Good luck with your profits, misers!

Star Trek High Definition is only possible while theyre receiving return for their efforts. Pirate Star Trek, and their efforts will have no choice but to cease :(

2.8.2013 12:22 #2

brockie

how sad are the 2 comments above:( can not wait to get the PS4 glad there back on form.

9.8.2013 08:20 #3

AfterDawn: News