Sony Corporation reported a record first-quarter (ending June 30, 2018) operating income of $1.78 billion (¥195 billion), a 24 per cent increase compared to $1.42 billion (¥157.6 billion) in Q1 of the previous year.

The consolidated sales and operating revenue also increased by five per cent to $17.90 billion (¥1.95 trillion) compared to the same quarter of the previous fiscal year, said a statement from the company.

The net income attributable to Sony Corporation’s stockholders for the quarter was 2.8 times higher than the previous quarter at $2.08 billion (¥226.4 billion), it said.

This growth was spurred by strong sales of gaming software which bumped up the forecasts for gaming and chips. The semiconductor division, which includes imaging sensors, posted an operating income of $266 million (¥29.1 billion), reinforcing sensors as a pillar of growth in the medium and long term, as applications are likely to expand to depth sensing, surveillance, factory automation and automobiles, it added.

Meanwhile, sales of the home entertainment and sound (HE&S) division increased six per cent year-on-year to $2.49 billion (¥272.1 billion), brought on by an increase in unit sales of televisions, audio products and headphones, said the statement.

The imaging products and solutions segment also recorded a six per cent rise year-on-year to $1.5 billion (¥164.2 billion), while the operating income increased to $239 million (¥26.1 billion).

The rise in sales and operating income was due to improvement in the product mix of still and video cameras reflecting a shift to high value-added products particularly in the interchangeable lens, mirrorless cameras and lenses segments, it said.

Fumiatsu Hirai, managing director, Sony Middle East and Africa, said: “The first quarter of our fiscal year was promising as we aligned the forecast in the Middle East and Africa (MEA) region with the new management’s strategy of focusing on stable sources of revenue.”

“We are reinforcing our sales strategy by promoting our focus product categories from the much-awaited Bravia Master Series of 4K HDR TVs, our industry leading wireless noise cancelling 1000X series headphones, and the highly acclaimed Alpha series of full frame mirrorless cameras,” Hirai added.

The consolidated sales forecast for the upcoming quarter is $78.82 billion (¥8.600 trillion) as a result of upward revisions, primarily in the game and network services segment, it stated. – TradeArabia News Service