Tokyo (dpa) - Strong sales of Playstation games have brought Sony through the corona crisis so far - but the Japanese electronics giant is already preparing for a decline in profits in the current financial year.
Among other things, Sony expects worse business with its camera sensors. They are used in smartphones from many manufacturers, but the mobile phone market is currently under pressure.
In the past quarter, the Playstation business was able to cushion the declines in other areas very well. Net income increased 53.3 percent year-over-year to 233.2 billion yen (1.9 billion euros) in the first quarter ended June. Revenue increased 2.2 percent to 1.97 trillion yen.
In the games area, sales jumped by almost a third to 606 billion yen. On the one hand, the video game business in the pandemic posted strong growth overall - on the other hand there was a new exclusive Playstation game called “The Last of Us Part II”. Operating profit rose from 74 to 124 billion yen. Sony is now preparing for the launch of the Playstation 5 for the Christmas season. Sales of the current Playstation 4 have been falling accordingly for some time.
Sony's film and TV show business also contributed 24 billion yen to quarterly earnings despite closed cinemas - thanks to increased television revenue. At the same time, Sony is already expecting the negative effects of the corona crisis to be felt in the film business for two to three years.
In the electronics business, the former core business of Sony, sales dropped 31 percent to around 332 billion yen. The corona crisis has led to lower sales of digital cameras, televisions and other audio and video technology. The operating profit saw a loss of 9 billion yen instead of the 25 billion yen profit a year earlier. For the rest of the fiscal year, Sony hopes for a better result in the division thanks to austerity measures.
Camera sensors saw a drop in sales of eleven percent to a good 206 billion yen last quarter, and the operating result halved to around 25 billion yen. For the entire fiscal year, Sony anticipates a seven percent drop in sales in the division.
Throughout the entire group, Sony now expects a profit decline of 12.4 percent to 510 billion yen for the fiscal year that runs until the end of March 2021.
© dpa-infocom, dpa: 200804-99-37468 / 2
Sony on business last quarter