Sony today reported a $780 million operating profit for Q1 2015, up 39 percent annually, as the company’s camera sensor business and PlayStation 4 arm pushed it past analyst expectations.
The Japanese firm posted quarterly revenue of $14.5 billion, down a mere 0.1 percent year-on-year. Back in February, the firm announced a major restructure with a focus on entertainment and its financial results reflected that. Sony said that increased business for its music division — which saw income jump 173 year-on-year to $256 million — devices business which sells camera sensors for smartphones — up 164 percent to $244 million — and games division — up 350 percent to $157 million — were the stellar performers.
Other units didn’t fare as well. The company’s movie business — Sony Pictures — posted a $94 million loss, while its mobile division lost $184 million as sales slumped 16 percent year-on-year. Sony attributed its mobile struggles to a “strategic decision not to pursue scale in order to improve profitability.” The company’s fortunes aren’t likely to change any time soon, since its latest consumer flagship — the Z3+ — is an iterative upgrade that doesn’t offer much new on the original Z3.
Sony isn’t just focused on its best performers, it is also branching out into new businesses, with plans to launch a drone company that captures data for enterprises. It also outed a new crowdfunding platform to showcase new gadgets from its Japanese staff earlier this month, as it aims to accelerate fresh thinking and innovation.Featured Image: TechStage/Flickr UNDER A CC BY-ND 2.0 LICENSE