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Sony 1Q17 earnings show overall success, more mobile sales

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Japanese tech conglomerate Sony has logged over 15 percent in overall revenue gains and has nearly quadrupled its net income over the course of a year. It has wrapped its first quarter of fiscal year 2017 with a ¥80.9 billion return on gross earnings of about ¥1.86 trillion.

Most of the difference between those figures come activities related to two focus points: last year’s earthquakes in Kumamoto, Japan, and the sale of equity in a camera sensor business. Operating income figures barring one-time expenses more closely reflects the gross revenue change at a 10.4 percent jump to ¥120.8 billion. The company also benefited from a strengthening Dollar, helping US sector sales figures with a 1 to 3 percent conversion boost from a year ago.

Semiconductors proved to be the leading unit for the company as revenues improved by 41.4 percent. At ¥55.4 billion, operating income for the item has effectively made up for a year-ago loss and then some. The second-best income before external costs came from the imaging unit.

But it’s the mobile business we’re on about as Sony a 2.5 percent drop in revenue to ¥181.2 billion as “essentially flat” — it was the only unit of nine to lose out in this respect. The division was able to cut general business and R&D costs and dramatically increase operating income from ¥400 million all the way to ¥3.6 billion. Sales rocketed 9.7 percent to 3.4 million units.

The year’s forecast remains unchanged as revenue should rise to ¥820 billion (up 8 percent from 1Q16), though operating income should effectively be halved to ¥5 billion as the company continues to sell people on the idea of owning an Xperia phone. 16.5 million units are expected to be sold.

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