Sony Corporation released its financial results for the latest fiscal quarter between April and June, which is marked as Q1 2019 in the internal documents but is effectively the second quarter of the calendar year. While income rose 18% on a yearly basis, the Electronic Products & Solutions division reported a decrease both in sales and in operating income.
While the whole EP&S department is going down quarter over quarter, the Mobile Communications segment brought JPY1 billion in income, instead of shedding JPY10 billion from the total budget. This is the outcome of several reductions in operating costs, somehow negating the poor sales and negative impact of the foreign exchange rate.
The forecast for the fiscal year, ending on March 2020, is that sales will be 4% down in the whole department, with mobile devices expected to bring just JPY380 billion, instead of the JPY410 billion predicted three months ago. Operating income is also in the red, painting a bland picture for the future of Sony smartphones.
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