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Sony Mobile financial results - Official |
>500
Joined: Jan 24, 2006
Posts: > 500
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So I thought we needed a dedicated thread for this. Rather than taking up space in the rumours thread. Where people seem to think the topics are related.....
New results are due out tomorrow.
[ This Message was edited by: >500 on 2014-05-14 04:17 ] |
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tonif430
Joined: Apr 23, 2007
Posts: 77
From: Andorra
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I will look for info here tomorrow
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Tsepz_GP
Joined: Dec 27, 2006
Posts: > 500
From: Johannesburg, South Africa
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Report: Kaz Hirai, Sony execs may accept 50 percent pay cut, forgo bonuses
Ahead of Sony's upcoming full consolidated results for the fiscal year ending March 31, 2014, The Wall Street Journal reports that Sony CEO and President Kazuo Hirai and other executives will not accept bonuses for the year, receiving a diminished 50 percent cut in annual pay.
Sony adjusted its financial forecast for the business year earlier this month for the third time in the fiscal year. The company cited its exit from the PC market and the diminishing consumer interest in physical media such as DVDs and Blu-rays.
Sony announced in February that it will sell its PC business and exit the PC market. It expects 30 billion yen in expenses for the fiscal year related to the strategy. The company is also projecting a 25 billion yen in impairment charges for overseas disc manufacturing, that has slowed due to the rising popularity of digital media and downloadable content.
Sony will share its full consolidated results for the fiscal year on May 14, where it expects to report a net loss of 130 billion yen ($1.27 billion), an adjustment from February's projection of a 110 billion yen ($1.07 billion) loss. The forecast for operating income is now 26 billion yen, a decrease of the previously expected 80 billion yen.
Polygon
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randomuser
Joined: Sep 13, 2011
Posts: > 500
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Xperia Shipments down to 8.8 million units for Q1 2014 from 10.7 million in Q4 2013
Mobile business posted loss of 67.5 billion yen in Q1 2014
FY2013 Mobile business loss stands at 75 billion yen.
FY2013 Mobile shipments 39.1 million
[ This Message was edited by: randomuser on 2014-05-14 07:30 ] |
Gitaroo
Joined: Aug 17, 2013
Posts: > 500
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how are they even loosing money in mobile? |
randomuser
Joined: Sep 13, 2011
Posts: > 500
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No idea lol.
Btw Sony is out of the Top 10 smartphone vendors list for Q1 2014, No.9 and No.10 ZTE and Youlong shipped 10 and 9 million respectively.
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tonif430
Joined: Apr 23, 2007
Posts: 77
From: Andorra
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So, there is an increase in sales
But htey continue to loss money, I don't get it....
FY2014 forecast is to sell 50.000.000 Xperia's !!!! 
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Tsepz_GP
Joined: Dec 27, 2006
Posts: > 500
From: Johannesburg, South Africa
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Oh dear...
How much longer can they keep going like this, it's like SE back in 2009, except the numbers are much bigger. The vultures are going to start circling over them if not already.
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motvikt
Joined: Jun 03, 2009
Posts: > 500
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Aren't the loss because of the Vaio "sell"? |
Tsepz_GP
Joined: Dec 27, 2006
Posts: > 500
From: Johannesburg, South Africa
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Sony posts US$1.26b fiscal year net loss
Struggling electronics giant Sony lost $1.26 billion in the fiscal year to March, the once-mighty firm said Wednesday, blaming costs tied to its exit from the personal computer business as it undergoes a painful restructuring.
TOKYO: Struggling electronics giant Sony lost $1.26 billion in the fiscal year to March, the once-mighty firm said Wednesday, blaming costs tied to its exit from the personal computer business as it undergoes a painful restructuring.
The Japanese firm booked a whopping shortfall of 128.37 billion yen ($1.26 billion), and forecast a 50 billion yen net loss in the current fiscal year to March 2015, as it saw losses narrow in its hard-hit television business.
Revenue increased 14.3 per cent to 7.76 trillion yen owing to a weak yen, record sales for its new PlayStation 4 videogames console and strong demand for its smartphones.
The company's woeful bottom line results come a day after it said it would not pay bonuses to senior executives for the third straight year.
Moody's has downgraded its credit rating on Sony to junk, saying the company must do more to repair its battered balance sheet.
Investors were shocked this month when Sony warned it would lose more than the 110 billion yen shortfall it had forecast just three months ago, when it said it would cut 5,000 jobs in its struggling computer and television units.
Sony President Kazuo Hirai has led a sweeping restructuring, including asset liquidisation that saw the $1.0 billion sale of Sony's Manhattan headquarters.
Last week, Sony said it would shutter its ebook Reader Store in Europe and Australia following a similar pullout in North America.
Reports have also said Sony would sell properties at a prestigious Tokyo site where it had its headquarters for six decades.
But Hirai has repeatedly shrugged off pleas to abandon the ailing television unit, which he insists remains central to Sony's core business.
Japanese manufacturers have suffered badly in their TV divisions as razor-thin margins and fierce overseas competition weigh on results.
Sony was once king of consumer electronics and a byword for cool.
But the company that revolutionised the way people listen to music with its Walkman portable cassette player has lost its footing since the sure-fire successes of the 1980s, and been overtaken by nimbler foreign competitors like Apple and Samsung.
The electronics that built the brand are now an albatross around its neck, weighing on the profits that other arms of the huge company generate, such as those in music publishing and a movie division that includes a Hollywood studio.
A little-known insurance business also makes money.
But the movie business also struggled over the past year, while the cost of the PS4 launch put its games division into an operating loss, Sony said.
"Sales for Motion Pictures decreased significantly year-on-year due to lower theatrical and home entertainment revenues as the previous fiscal year benefited from the strong performances of Skyfall, The Amazing Spider-Man and Men in Black 3," Sony said in a statement.
Earlier this year, Sony said it was selling its Vaio-brand PC division to a Japanese investment fund as it plans to concentrate on its line-up of smartphones and tablets.
After suffering four years of losses, Sony crept back into the black in the previous fiscal year -- although that was mostly due to asset sales and a weak yen which inflates repatriated profits.
Despite its high-profile struggles, Sony has seen buoyant sales of its Xperia smartphone offering and record demand for its new PlayStation 4 console.
Last month, the firm said it had sold seven million PS4 consoles worldwide since its launch in late 2013.
The PS4 is up against Microsoft's Xbox One, and Nintendo's Wii U for dominance of the digital home entertainment market at a time when consoles are under intense pressure to prove their worth in a world of ubiquitous smartphones and tablets for games and videos.
Sony's Tokyo-listed shares closed up 1.06 per cent to 1,805 yen, with the earnings announcement made after markets had closed.
Channel News Asia
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Gitaroo
Joined: Aug 17, 2013
Posts: > 500
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A Summary from Zomgbbq
http://www.neogaf.com/forum/s[....].php?p=111913510&postcount=196
"Critically, the core business is actually marginally profitable and they decreased their net indebtedness by around $500m over the year and increased their revolving finance facilities to over $7bn (access to money if they need it, Moody's am cry). A lot of the losses over the last few years have been paper losses, asset impairments, DTA write downs and such. What that means is money either spent in the past or in the case of a DTA, the asset taken on for tax losses carried forwards, are now being written off as they are not going to get that money back. They spent the money, previously and now they won't get it back through their normal operations.
It is a huge difference to a company that actually loses money outright where their normal operations cost more than the revenue they generate from sales. Nintendo are in this category which is why their situation seems worse than Sony's and they don't really have a clear path to recovery like Sony (getting rid of the TV division) because their problems stem from deeper issues such as smartphones killing their handheld business and being stupidly uncompetitive in the home console market.
For all their current faults, Sony still have a profitable smartphones division, a hugely profitable financial services division, their content division (pictures+music) reliably makes $1bn per year in operating profit and their games division seems to be recovering very nicely after the PS3 caused so much turmoil. In essence if they jettison the TV division they would be pretty healthy and though they would hold a significant amount of debt but they would be profitable, more than enough to redeem bonds and meet their financial obligations. I guess the issue is that it has cost Sony $1.7bn to exit PCs and I expect the cost of exiting TVs would be double because all 30,000 employees would need paying off and the losses on current stock and contracts would need to be written off.
Essentially, though it is true they lose money, a lot of it is on paper, and the core business is generating cash."
The company just have too much weights to drag along, but things are not as bad as they seems to be. |
FMW300
Joined: Aug 06, 2007
Posts: 277
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I just can't understand how they shipped so few phones. Only 8.8 million?
T230 > W300 > W890 > W705 > Live > Xperia T > Xperia Z2a > Xperia X > Xperia XZ2 |
cu015170
Joined: Oct 26, 2010
Posts: > 500
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http://arstechnica.com/busine[....]-lost-nearly-10b-over-8-years/
this is no bueno.. At this rate I hope Sony doesn't get absorbed by an American software company |
cu015170
Joined: Oct 26, 2010
Posts: > 500
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I meant to type parts of it.. They already unloaded the pc division, so its not far fetched to think that they might get rid of something else as well |
chunkybeats
Joined: Dec 08, 2005
Posts: 496
From: New Zealand
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I would be deeply upset if Apple bought Sony. Sony are well ahead in innovation and design on their mobile division and I would still consider Sony as a brand still cool. The fact is Sony provides other OEMs components for their handsets so that should be profitable. I'm glad they got out of the PC market, too crowded and not as profitable as once used to be. Fingers crossed Sony goes strong and Ibelieve they will because they are always one step ahead of the competition and that's why I like their products! |
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Posted: 2014-05-13 13:04
