Sony Corporation has reported its Q2 FY2015 financial results for the 3 months to the end of September 2015. Overall, sales were broadly flat year-on-year at 1,892.7 billion yen, with the CMOS image sensor and PlayStation business units helping to drive growth but being offset by a weak performance in mobile and financial services.
The latest results statement reveals little change for Sony’s mobile division. Sony shipped 6.7 million units during the quarter, a year-on-year decline of 32 percent, but still in line with expectations. Thankfully, we also saw no further cuts to full-year forecasts – Sony still expects to ship 27 million units during the year with sales of 1,190 billion yen and an operating loss of 60 billion yen. The full year forecast of 27m units represents a 31% reduction over the prior year just to give some context.
Mobile sales in Q2 FY2015 were down by 15% year-on-year primarily as a result of its “strategic decision not to pursue scale in order to improve profitability.” A small positive is that operating loss did improve due to a change in “product mix reflecting a shift to high value-added models” and reduction in marketing expenses. We’re not so sure how a reduction in marketing will help over the longer term, but hopefully Sony knows what it is doing.
Full-year forecasts for the mobile division remain unchanged
The fall in Xperia units during the last quarter was in line with expectations