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Sony Reports Loss But PlayStation Keeps Performing Well

Sony Reports Loss But PlayStation Keeps Performing Well

Enterprise & IT Apr 28,2016 0

Sony reported a fourth-quarter loss after booking a charge against its chip business and delayed giving a full-year forecast to assess damage from an earthquake that shut its main plant for camera sensors. The net loss was 88.3 billion yen ($812 million) in the three months ended March, the company said in a statement on Thursday.

Slowing demand for smartphones has hurt shipments of image sensors, a business that has helped to bolster profits as Chief Executive Officer Kazuo Hirai shifts the company away from consumer electronics. Sony will have to generate more of its earnings from PlayStation 4 gaming consoles, streaming services for its 50 million online users as well as movies and music.

Sony issued forecasts for some its divisions. Operating income in pictures will rise 12 percent to 43 billion yen, while music earnings will drop 28 percent and profit from financial services will decline about 4 percent to 150 billion yen. The company will give a full outlook on May 24.

Sony’s games and network services business reported a 5.1 billion yen profit in the quarter. The company plans to launch a virtual-reality headset this year. The PlayStation VR will be available to the more than 36 million people who already own a PS4 when it goes on sale in October for $399.

Tags: Sony
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