Sony FY2017 Q1 Financial Report

Sony released their FY2017 Q1 report today and sales are up, but they aren’t as bullish about sales as they were for FY2017, which ends in March 2018 so they revised projections for FY2017 down. It seems Sony is expecting lower image sensor sales for mobile products and exchange rates to cut into their profits for FY2017.

Sales increased 41.4% year-on-year (a 38% increase on a constant currency basis) to 204.3 billion yen. This increase was primarily due to a significant increase in unit sales of image sensors for mobile products, as well as the absence of the impact of a decrease in image sensor production due to the 2016 Kumamoto Earthquakes in the same quarter of the previous fiscal year, partially offset by a significant decrease in sales of camera modules, a business which was downsized.

Sales are expected to be lower than the April forecast primarily due to lower-than-expected image sensor unit sales for mobile products, partially offset by the impact of foreign exchange rates. Operating income is expected to be higher than the April forecast mainly due to lower-than-expected production costs as well as the positive impact of foreign exchange rates, partially offset by the impact of the above-mentioned decrease in sales.

You can read the full report at Sony

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