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Sony Slims Losses in Q2 Thanks to Smartphone Sales

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Sony announced its third quarter 2012 earnings on Thursday and the company said it lost $198 million for the three months ending in Sept.

That may seem like a pretty poor quarter, but the company improved on losses of $312 million during the first quarter of this year and $5.7 billion in 2011. Sony’s mobile business pulled in $3.9 billion in Q2, but the unit still isn’t profitable: it lost $296 million overall. Sony’s game business saw a decrease in sales of 15.8 percent year-over-year to $1.89 billion and said the drop was primarily due to poor PS3 and PSP hardware and software sales. Still, the PSP Vita helped sales a bit.

Sony said it plans to lay off 10,000 members of its work force during the next fiscal year, ended in March 2013, “primarily in the electronics business.” As part of early restructuring moves, Sony closed one manufacturing location in order to focus on its operations in Japan.

[via Engadget, Sony (PDF)]


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Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...