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Spider-man helps Sony to profit, but rivals look stronger

July 30th, 2007 · No Comments

Spider-man has helped Sony double last year’s Q1 profit. The success of the super-hero movie, coupled with strong sales of cameras and computers, helped the company post a 66.46 billion yen profit in its first quarter financials. Sales were up 13.3 percent to 1.977 trillion yen.
There was bad news from its TV division though, which saw sales decline 10 per cent.
Nobuyuki Oneda, Sony’s chief financial officer predicts “it’s going to be difficult to turn profitable in televisions this year.” He also said he continued to be “worried” about PS3 sales.
Sony’s main rival, Matsushita Electric Industrial (parent of Panasonic), has announced an 8 per cent increase in global consolidated group sales for the same period. Matsushita’s operating profit rose 13 percent to 601 million dollars. The company’s AVC networks division has posted a sales increase of 5 percent to 7.52 billion dollars, compared with the same prior-year period.
First quarter financials for Toshiba also look strong. The company posted a net income of 20.6 billion yen and a 1.6 percent rise in quarterly operating profit, to 21.2 billion yen. Sales are up 15 per cent to 1.66 trillion yen.

Tags: Corporate · Trade

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