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COMMERCIAL NEWS

Sony operating income jumps 22pc to $8bn

May 22, 2019 12:29 PM

Sony Corporation registered a strong operating income of 8.06 billion in fiscal year 2018 ended March 31 2019 with a year-on-year growth of 22 per cent compared to the year ago. The company s consolidated...

Sony Corporation registered a strong operating income of $8.06 billion in fiscal year 2018 ended March 31, 2019, with a year-on-year growth of 22 per cent compared to the year ago.  
 
The company’s consolidated sales and operating revenue was valued at $78.14 billion, compared to the previous year’s $77.04 billion. For the first time in history, income before income taxes exceeded a trillion yen reaching $9.12 billion (¥1.11 trillion). 
 
The steady growth in Sony’s business is exemplified by its product focus on efficiency and the brisk performance of key segments including Game & Network Services (G&NS), Home Entertainment & Sound (HE&S), and Imaging Products & Solutions (IP&S). 
 
The Home Entertainment & Sound segment posted a 3.8 percent year-on-year increase from $773.6 million  to $808.8 million in its operating income as a result of a shift to high-value added models of 4K Bravia OLED TVs. Meanwhile, overall sales recorded a six percent year-on-year decrease of $10.42 billion primarily due to a decline in unit sales of televisions resulting from a strategic decision to focus on profitability, and the negative impact of foreign exchange rates. 
 
The Imaging Products & Solutions segment witnessed a steady increase in both sales and operating income attributed to the improvement in the product mix and a shift to high value-added models such as mirrorless single-lens cameras and the interchangeable lens lineup, as well reductions in operating costs. The IP&S segment achieved overall sales of $6.05 billion while the operating income was recorded at $757.4 million. 
 
Sony Middle East and Africa is expecting further growth in the new financial year following the scheduled launch of its new products in the television, audio and digital imaging segments, said the statement. 
 
Among the new products that recently launched in the region were the Sony A6400 mirrorless camera and RX0 II premium ultra-compact camera. The newest Sony Master Series A9G TVs as well as the latest noise cancelling wireless headsets aim to contribute to the overall sales in the region, it said. - TradeArabia News Service 
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