Sony’s Q1 2012 results are in, ending June 30th, and they’re not looking good. Aside from underwhelming sales of its PSP and PS Vita gaming machines, the company posted a significant $356 million USD loss in its Mobile Products & Communications, of which Sony Mobile is now a part.
Sales, however, in the department were up 133% year over year to $3.6 billion, which was directly attributable to bringing Sony Mobile under the MP&C umbrella. According to Sony, removing the sales increase from the consolidation itself, sales would have been up 14% y/y . According to the results, “This increase was primarily due to higher average selling prices of mobile phones resulting from a shift to smartphones from feature phones, and higher unit sales of smartphones driven mainly by the strong performance of Xperia S and Xperia acro HD.”
While revenue was down across the board, the company still pulled in $19.2 billion in sales. And with $8.4 billion in liquid assets and a plan to get back to profitability by March 2013, Sony is in a decent position despite the poor results.