Sony Corp is benefiting from the sales of the most powerful smartphones from customers such as Huawei Technologies, a factor that compensates for the weakness of the video game area
Sony cellphone taking a photo / Reference image / Pixabay
Reuters | Makiko Yamazaki
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Japan's Sony surprised the market by announcing record operating gains on Tuesday in the first fiscal quarter, despite the slowdown in the video game business, as strong demand for multi-lens mobile camera systems boosted sales of image sensors.
Sony Corp is benefiting from the sales of the most powerful smartphones from customers such as Huawei Technologies, a factor that compensates for the weakness of the video game area since its PlayStation 4 console, which was released six years ago, is close to the end of its lifespan and increases the cost of developing a latest generation device.
"Our sales of image sensors have grown independently of the growth of the smartphone market," thanks to the adoption by manufacturers of such devices with multiple lens cameras and large image sensors, said Sony's chief financial officer, Hiroki Totoki.
"Our production facilities have been operating at full capacity," he said.
The Japanese electronics manufacturer obtained an operating profit of 230,930 million yen (2,100 million dollars) in the quarter from April to June, 18.4% more than a year ago and above the consensus forecast of 173,610 million yen from a survey of eight analysts compiled by Refinitiv.
The group, which has been reaping record profits for two consecutive years, maintained the profit forecast for the fiscal year ending next March at 810 billion yen.
(US $ 1 = 108,6200 yen)