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Sony Posts $1.2B Loss for 2Q as Mobile Continues Slide

Sony has reported a $1.2 billion net loss for its second quarter as the Japanese firm’s mobile division continues to struggle.

The loss was not as great as Wall Street had been predicting, primarily due to demand for PlayStation 4 consoles. It was those sales that helped to offset the company’s writedown of its Xperia Smartphones. Thomson Reuters predicted Sony would have an operating losses of $1.47 billion.

The company posted operating losses of $785 million in the quarter, that is in spite of a 7.2 percent year-on-year revenue increase totalling $17.45 billion.

Sony has lost money in six out of the last seven years and, lately, it has been because of it beleaguered mobile division which, in this quarter, suffered a loss of $1.58 billion.

Sony’s gaming unit is a boon for the company, however, helping offset mobile losses. Gaming revenue jumped 83 percent year-on-year thanks to the PlayStation 4. Sony’s device business, meanwhile, which includes Smartphone camera lenses and image sensors posted $271 in revenue, an increase of 187 percent compared to the year-ago quarter.

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