On Friday, Sony Corp., reported quarterly profit that hit market estimates, since videogame sales and cost cuts in its flagging mobile business balance a fall in sales of the image sensors that had directed Sony’s turnaround a year earlier. According to Thomson Reuter’s data, October-December operating profit soared 11% from a year ago to 202.1 billion yen ($1.68 billion), whipping the average 175 billion yen forecast of 8 analysts.
Sony has tumbled behind Samsung Electronics Co Ltd and Apple Inc as well as low-cost Asian opponents in consumer electronics such as TVs and smartphones. However cost cuts along with strong sales of image sensors used in smartphones and PlayStation 4 games helped a reversal at the Japanese company over the past year. In November, Sony stated that sales of its PlayStation 4 video game consoles topped 30 million units worldwide.
Concerns about frailer sales of Apple’s iPhones and a slowdown in mobile market of China have contemplated on Sony shares in topical weeks. On Friday the stock finished trade at 2,523 yen, dejected around 16% since the start of the year.
According to Sony quarterly sales of devices, comprising image sensors, dropped 13% from a year ago. The segment, also beaten by lower battery sales, booked a plunge of 11.7 billion yen compared with a 53.8 billion yen profit in the preceding year. The company sustained its perspective for full-year operating profit to raise to 320 billion yen from 68.5 billion in the preceding year.
