Sony posts $1 billion profit, but mobile sales take a tumble
Sony has posted its Q3 2015 earnings, and while the manufacturer has done significantly better from Q2 2015 on account of strong PlayStation sales, mobile sales have fallen 14.7 percent. Overall, Sony made ¥2.58 trillion ($21.5 billion) in revenue, with an operating profit of ¥202.1 billion ($1.69 billion). Net profit was at ¥120.1 billion ($1 billion), 33 percent higher than Q2 2015.
The PlayStation division saw a sales increase of 10.5 percent, bringing in an overall revenue of ¥587.1 billion ($4.89 billion). Sony Pictures also had a decent quarter, posting revenues of ¥262.1 billion ($2.18 billion) that resulted in a YoY growth of 26.9 percent.
The mobile division's revenues witnessed a decline of 14.7 percent to ¥384.5 billion ($3.2 billion). From Sony:
This decrease was due to a significant decrease in smartphone unit sales resulting from a strategic decision not to pursue scale in order to improve profitability.
Sony's restructuring efforts, which include scaling back the R&D and marketing divisions, have paid off, as the vendor recorded operating profit of¥24.1 billion ($201 million). The vendor's image sensor business — the growth driver for Sony for several quarters, which led to it being spun off into a standalone entity — also took a sales hit in Q3, with Sony attributing the downturn to a decrease in unit sales of video cameras and digital cameras.