Sony achieves all time high operating profit of $6.6 billion

Muscat: After two decades, Sony Corporation has registered historically high consolidated operating income of $6.6 billion (¥734.9 billion) in fiscal year 2017, a 2.5-fold increase compared to the previous year.
The company’s consolidated sales and operating revenue was $77.04 billion (¥8.54 trillion), registering a 12 per cent rise compared to the previous year. Sony also reported net income of $4.4 billion (¥490.8 billion), which was 6.7 times higher than that recorded in the previous fiscal year, the company said in a press release.
Sony has been through a process of re-invigoration and is firmly back on the path of growth and profitability. Sony Middle East and Africa is also experiencing a strong growth momentum and has recorded a 15 per cent increase in sales (in fiscal year 2017) over previous fiscal year. This steady gaincombined with the growing popularity of our high value-added products such as 4K Bravia OLED TV, truly wireless Noise Cancelling headphones, wireless speakers, high power home audio systems and full frame mirrorless range of Alpha cameras positions us well for 2018 fiscal year,” said Fumiatsu Hirai, Managing Director, Sony Middle East and Africa.
The overall profit was spurred by sales increases across various segments, with the exception of the mobile division. The impressive performance in the Game and Network Services (G&NS) segment was evident, as it witnessed an 18 per cent year-on-year rise in sales to $17.5 billion (¥1.943 trillion), largely driven by an increase in PlayStation 4 software sales. The gaming division’s operating income also increased to $1.6 billion (¥177.5 billion) as compared to last year’s $378 million (¥41.9 billion).
For the Pictures Segment, the commercial successes of ‘Spider-Man: Homecoming’ and ‘Jumanji: Welcome to the Jungle’ contributed to a year-on-year sales rise of 12 per cent and operating income improved to $371 million (¥41.1 billion).
Meanwhile, the Home Entertainment & Sound segment posted an 18 per cent year-on-year sales increase from $246.2 million (¥27.3 billion) to $773.6 million (¥85.8 billion). Sales and operating income rose due to a shift to high value-added models such as 4K Bravia OLED TVs and the positive impact of foreign exchange rates.
The Imaging Products & Solutions segment also witnessed a 13 per cent year-on-year climb in its operating income, at $675.4 million (¥74.9 billion) compared to the previous year’s $250 million (¥27.7 billion). The enhancement in the Alpha series mirrorless cameras and interchangeable lens line-up also contributed to the expansion in sales and operating income.
Sony MEA expects itstelevision, audio and digital imagingsegments to growfurther in the coming months following the scheduled launch of new products in 2018.