Sony looks to smartphones to boost profits

 
Suzie Neuwirth

ELECTRONICS maker Sony today posted a 4.7 per cent increase in sales year-on-year and operating income of ¥230.1bn (£2.45bn), after restructuring its business portfolio.

The company now aims to capitalise on the lucrative smartphone market to boost its earnings.

“In order to achieve a return to profit in electronics, it is especially important for the mobile businesses, particularly smartphones, to demonstrate a significant improvement in operating results and for the television business to turn a profit,” the company said.

“With regards to smartphones, the Xperia Z has been enjoying strong consumer acceptance since it went on sale in February 2013 due to its various cutting-edge technologies from the Sony group.

“By further accelerating similar initiatives, Sony aims to expand its sales and improve profitability during the fiscal year ending 31 March 2014 in the smartphone market, which is continuing to grow.”