Sony Corporation has announced its highest ever third quarter operating profits for the fiscal year ending 31 December 2017, posting a nearly four-fold increase of 11.5% year-on-year as compared to the same quarter of the previous fiscal year. The companys sales and operating revenue of $23.65 billion (¥2.67 trillion) was reportedly spurred by growth […]
Sony Corporation has announced its highest ever third quarter operating profits for the fiscal year ending 31 December 2017, posting a nearly four-fold increase of 11.5% year-on-year as compared to the same quarter of the previous fiscal year.
The companys sales and operating revenue of $23.65 billion (¥2.67 trillion) was reportedly spurred by growth and an impressive performance in the Home Entertainment & Sound (HE&S) and Game and Network Services (G&NS) segments. Sonys consolidated operating income was $3.1 billion (¥350.8 billion), which is approximately 3.8 times higher than the same quarter of the previous fiscal year.
The increase in sales and operating income was primarily due to a shift towards high value-added models, particularly 4K televisions, and the positive impact of foreign exchange rates. Sony has also upwardly revised its forecast for operating income by $35.4 million (¥4 billion) to $708 million (¥80 billion) primarily due to an improved mix of audio and video products.
Throughout the fiscal year of 2017, we have aligned our Middle East and Africa regional growth strategy with Sonys global strategy by re-engineering our operations and evolving priorities through a united front with our channel partners in the retail space. Along with the positive consolidated financial results, we are on track to achieving our forecast of 20% business growth across the region, said Taro Kimura, Managing Director, Sony Middle East & Africa.
