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Has Sony turned it around? Sonys financial year: our verdict
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You are currently in Business and Industry in Gaming, Media, Web, IT and Computing
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Fri May 16, 2008 4:29 am Reply and quote this post
Sony saw an increase in sales in its electronics range thanks largely to Bravia LCD TVs.
An8.9 per cent increase was shown in the sales of Bravia LCD TVs, VAIOPCs and CyberShot digital cameras, equating to 6,613.80 billion Yen(32.3 billion). A slight decrease was seen in the sale of LCD rearprojection TVs.
Operating income for the year was more thandouble FY06 for electronics, up from 160.5 billion Yen (0.8 billion)in 2006 to 356 billion Yen (1.7 billion) in 2007.
However, mobile phones were among the worst performers in Sonys electronics portfolio, the only decreasing factor in Japan and Europe.
Music and film
SonyBMG, the music strand of Sony, saw a small decrease in sales (down fourper cent) but a massive increase in income before taxes, up a whopping90 per cent to $257 million (132 million).
The company cites a $67 million restructuring process and lower marketing costs as a reason for the increase.
Girlpower was the order of the day when it comes to Sony BMGs best-sellingalbums of the year. Music from Alicia Keys, Leona Lewis and AvrilLavigne all helped to bring in the cash.
Film-wise the companysaw an 11 per cent drop in sales, down from 966 billion Yen (4.2billion) FY06 to 858 billion Yen (4.2 billion) FY07. The company hascited a decrease in films being released in the year as a reason forthe drop.
As with the Electronics sector, Sony did see a big increase in operating income, this time of 26.5 per cent.
Although the PS2 is still outselling the PS3, sales of the console have dropped 7 per cent, while both the PSP and the PS3 have seen increases of 46 per cent - something the company is looking to increase next year - and 156 per cent accordingly. PS3 software sales have increased a massive 335 per cent.
Andwhile theres been a 26 per cent increase of sales from 1,016 billionYen (4.9 billion) to 1,284 billion Yen (6.3 billion) the company isstill operating a loss of around 0.6 billion in its gaming sector.

Contributed by Editorial Team, Executive Management Team
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