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Sony reports revenue dip following major smartphone sales decline

Sony reports revenue dip following major smartphone sales decline

Sony’s earnings report for its 2015 fiscal year shows a revenue dip of 1.3% (down to $71.7 billion), offest by net and operating profit growth driven by its successful games and home entertainment divisions. The revenue drop can be largely attributed to its mobile and devices units underperforming. Sony’s mobile business, in particular, is doing especially bad. It registered an operating loss of $544 million, 57.4% worse than the company’s projections. Clearly, the “strategic decision not to pursue scale in order to improve profitability” hasn’t amounted to much, if anything.

Major reconsideration is in order if the company wants to make its long-struggling mobile business turn a profit, and with the smartphone market now saturated and unusually price-aggressive, the situation appears dire.

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