Sony cuts smartphone outlook as sales shrink - Mobile World Live

Sony cuts smartphone outlook as sales shrink

30 JUL 2019

Sony lowered its sales outlook for its smartphones, as revenue in its Electronics Products & Solutions division dipped in fiscal Q1.

In its earnings statement for the quarter ending 30 June, Sony said it expects to sell 4 million smartphones in FY19, down from a forecast set in April of 5 million.

Revenue in its Electronics Products unit, which includes smartphones and consumer electronics declined 15 per cent, reaching JPY84 billion ($776 million).

In addition to smartphones, the company also cut its full year revenue outlook for its PlayStation 4 games consoles, following a decline in fiscal Q1 sales.

Its sales target for the year ending March 2020 was cut to JPY8.6 trillion, JPY200 billion less than forecast in April. Its profit prediction of JPY810 billion was unchanged.

At group level, Sony reported a 1.9 per cent drop in revenue to JPY1.9 trillion in Q1, while net profit fell 33 per cent to JPY152 billion.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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