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Sony forecasts drop in smartphone sales this year

2015-04-30 13:18:00| Telecompaper Headlines

(Telecompaper) Sony announced new medium-term targets for its mobile phone business. It now targets revenues of JPY 1.00-1.25 trillion for the activities in the year to March 2018, compared to a forecast in February of JPY 0.90-1.10 trillion. The higher forecast is due to the inclusion of its So-net unit in the mobile division. The operating margin target was left unchanged at 3-5 percent in FY 2018. In the past year, mobile sales rose 11 percent to JPY 1.32 billion, while the operating result was a loss of JPY 220.4 billion, mainly due to a goodwill impairment of JPY 176 billion as well as the stronger US dollar. In the last quarter to March, mobile revenues were up 1.2 percent year-on-year to JPY 27.16 billion (or +5% at constant currencies), while the operating loss widened to JPY 55 billion from JPY 15 billion. Smartphone unit sales were unchanged over the full year at 39.1 million and fell to 7.9 million in the fourth quarter form 8.8 million a year ago. Sony forecast mobile sales to fall around 7 percent this year to JPY 1.31 trillion, as it scales back its mid-range phones to concentrate on more profitable models. Unit sales will drop to an estimated 30 million, while the operating loss should reduce to JPY 39 billion, thanks in part to restructuring. 

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