Sony posts mega losses amidst underwhelming sales in almost every department

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.

Source: Sony (PDF)
Via: Engadget