Sony cut losses to $115M in Q3, mobile segment grew 94 percent

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Sony today announced its results for its third fiscal quarter, which saw some improvements. The Japanese manufacturer narrowed its loss to $115 million, compared to a crushing $2 billion loss in the same quarter a year earlier.

This is how the numbers shake out. Sony’s operating profit came in at $496 million and revenue during the holiday quarter grew 7 percent year-over-year to $21 billion. The company saw the mobile segment grow 94.4 percent due to the consolidation of Sony Mobile. Sony believes that sales could have increased “approximately 10 percent,” thanks to a portfolio shift to smartphones from feature phones.

The electronic giant claims that it is on pace to turn a profit of $214 million for the full fiscal year, and it expects annual sales to total $70.6 billion. Smartphones and television sales will have to play a big part in that.

It’s cool to see Sony getting things back on track, now all we need to see is their smartphones start making legit head waves. And from reading its third quarter earnings it would seem that the company is making the changes necessary to compete in the smartphone arena. However, only time will tell if Sony can make the right moves to keep this tiny momentum going.

[Sony (pdf); via Venturebeat]

 

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