Sony quarterly profit up 3-fold on currency gains, sensors
TOKYO (AP) — Sony said quarterly profit rose threefold as foreign exchange gains and sales of image sensors and Playstation 4 software helped offset declines elsewhere.
The Japanese electronics and entertainment giant reported Thursday that April-June net income rose to 82.4 billion yen ($664 million) from 26.8 billion yen a year earlier.
Sales of 1.81 trillion yen were little changed. The company said a sharp fall in smartphone and mid-range LCD television sales was offset by foreign exchange gains and strong sales of image sensors, particularly for mobile devices.
A 16.3 percent fall in mobile business revenue resulted from a significant decrease in smartphone sales because of a strategic decision not to pursue scale in order to improve profitability, Tokyo-based Sony said.
In games, both PS4 software and peripheral devices lifted sales.
The higher demand for image sensors and foreign exchange rate helped drive up sales and profits in Sony's devices businesses.