Sony Corporation posts 22.1 per cent YoY growth in sales and operating revenue Q2 FY2017
Sony Corporation reported strong sales and operating revenue performance for the second quarter of 2017, with a year-on-year increase of 22.1 per cent compared to the same quarter of the previous fiscal year.
Ending 30 September 2017, the $18.25 billion increase was primarily attributed to the impact of foreign exchange rates and a 15 per cent increase in Game & Network Services (G&NS) segment sales, on a constant currency basis.
The operating income for this quarter increased to $1.40 billion year-on-year to $1.8 billion, a 346.4 per cent rise. Contributing to the income growth was the increasing sales of Imaging Products and Solutions (IP&S), which posted a 15.8 per cent year-on-year growth amounting to $1.4 billion. Sales for the Home Entertainment & Sound (HE&S) segment were also up by 28.1 per cent year-on-year amounting to $2.6 billion. Sony Middle East and Africa (MEA) is on track to achieving the targeted 20 per cent growth in the region in 2017.
“This year, we have seen a very strong upswing in the business across all three of Sony’s priority segments. In the television category, our new range of BRAVIA 4K HDR TVs and BRAVIA OLED TVs have been well-accepted by the market and we are expecting a growth of 22 per cent in 2017. In the audio business, specifically in the recently introduced wireless Noise Cancelling 1000X series, wireless speakers and home audio systems, we are exceeding expectations and are growing by 28 per cent. In digital imaging, the recently introduced Alpha A9 camera has been a huge success with a 21 per cent growth projection and the gains will be reinforced with more new cameras and lens introductions in the second half of November,” said Taro Kimura, Managing Director, Sony Middle East and Africa, while reviewing the company’s half year performance.