World

Tech giant Sony swings to profit on PS4 sales

- BBC

Oct 29, 2015-

Japanese tech giant Sony swung to a net profit in the second quarter of its financial year, driven by strong sales of its PlayStation 4 video games.

Profit was 33.6bn yen ($278m; £182m) in the three months to September, compared with a 136bn yen loss a year earlier.

A weaker yen against the US dollar also helped boost the exporter's earnings.

The results are big turnaround for the firm that has seen years of losses and undergone a restructuring, which has resulted in job cuts and asset sales.

Its restructuring charges for the first half of its fiscal year fell by more than 35% from a year ago to 15.7bn yen.

But sales of its smartphones continued to decline.

"In the Mobile Communications segment, sales decreased primarily due to a significant decrease in smartphone unit sales resulting from a strategic decision not to pursue scale in order to improve profitability," the company said.

Published: 29-10-2015 15:31

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