Sony looking for record growth

Sony looking for record growth

Sony Corporation forecasted a 30 per cent increase in its annual consolidated operating income, driven by the impact of the consolidation of EMI Music Publishing and upward revisions in several segments particularly in the Game & Network Services segment.

The electronics giant expects annual operating income of US$7.7 billion (¥870 billion), a significant rise from the first quarter’s outlook of US$6 billion (¥670 billion). Meanwhile, the consolidated sales forecast has increased US$893 million (¥100 billion) from the previous quarter forecast of US$76.7 billion (¥8.6 trillion).

For the second quarter ending 30 September 2018, Sony Corporation registered a 17 per cent year-on-year increase to US$2.14 billion (¥239.5 billion) and a 6 per cent year-on-year increase to US$19.5 billion (¥2.18 trillion) on its sales and operating revenue as compared to the same quarter of the previous fiscal year.

“We got off to a strong start in Q1 FY2018 and were able to sustain momentum in the second quarter. We remain confident of achieving our targets in 2019, given that we have a strong line-up of high-value products that we will launch in the market. Here in the region, we are focusing our efforts on strengthening sales of high-value products such as the new BRAVIA Master Series, the WH-1000XM3 noise cancelling headphones and our top-of-the-line range of mirrorless cameras,” said Fumiatsu Hirai, Managing Director, Sony Middle East and Africa.