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Sony profits boosted by Playstation sales | Sony profits boosted by Playstation sales |
(35 minutes later) | |
Japan's Sony has swung into profit for the year to March, helped by strong sales in its games division. | Japan's Sony has swung into profit for the year to March, helped by strong sales in its games division. |
Net profit was 147.8bn yen ($1.33bn; £934m), compared with a 126bn yen loss a year earlier. | Net profit was 147.8bn yen ($1.33bn; £934m), compared with a 126bn yen loss a year earlier. |
Strong demand for its Playstation 4 console and games led to an 11.8% jump in sales for Sony's Game and Network Services division. | Strong demand for its Playstation 4 console and games led to an 11.8% jump in sales for Sony's Game and Network Services division. |
That helped to offset a 20% plunge in smartphone sales. | That helped to offset a 20% plunge in smartphone sales. |
Sony's Pictures segment - which covers films and television programmes - saw a 6.8% jump in annual sales. The boost came partly from higher subscription video-on-demand revenues for television series such as Breaking Bad, The Blacklist and Better Call Saul. | Sony's Pictures segment - which covers films and television programmes - saw a 6.8% jump in annual sales. The boost came partly from higher subscription video-on-demand revenues for television series such as Breaking Bad, The Blacklist and Better Call Saul. |
Earthquake impact | Earthquake impact |
Sony did not offer a forecast on future performance, as it is still assessing the impact from this month's twin earthquakes which took place in south-west Japan and affected Sony's supply chain. | Sony did not offer a forecast on future performance, as it is still assessing the impact from this month's twin earthquakes which took place in south-west Japan and affected Sony's supply chain. |
The region where the earthquake struck - Kumamoto - is a manufacturing hub for many Japanese companies, including Sony and carmakers Toyota and Honda. | The region where the earthquake struck - Kumamoto - is a manufacturing hub for many Japanese companies, including Sony and carmakers Toyota and Honda. |
Sony said, "With aftershocks continuing and employee safety the foremost priority, inspections of the facility and the development of a recovery plan remain ongoing." | Sony said, "With aftershocks continuing and employee safety the foremost priority, inspections of the facility and the development of a recovery plan remain ongoing." |
The Kumamoto Technology Center is the main manufacturing site of image sensors for the firm's digital and security cameras, as well as micro-display devices. | The Kumamoto Technology Center is the main manufacturing site of image sensors for the firm's digital and security cameras, as well as micro-display devices. |
Spin-off payoff? | Spin-off payoff? |
Last year, Sony decided to spin off its video-and-audio business into a separate company as part of a three-year plan to return to profit. | Last year, Sony decided to spin off its video-and-audio business into a separate company as part of a three-year plan to return to profit. |
Chief executive Kazuo Hirai said the company must not be afraid to change if it hoped "to grow in a Sony-like way". | Chief executive Kazuo Hirai said the company must not be afraid to change if it hoped "to grow in a Sony-like way". |
He said the Japanese electronics firm would no longer pursue sales growth in areas such as smartphones where it has suffered competition from rivals Apple and Samsung. | He said the Japanese electronics firm would no longer pursue sales growth in areas such as smartphones where it has suffered competition from rivals Apple and Samsung. |
Mr Hirai said instead it would focus on profitable businesses areas, including entertainment operations such as TV programming and the PlayStation game business. | Mr Hirai said instead it would focus on profitable businesses areas, including entertainment operations such as TV programming and the PlayStation game business. |
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