Sony Consumer Electronics Business “Worthless”
As reported by Bloomberg Businessweek, Atul Goyal of Jefferies has published a report valuing Sony’s consumer electronics business at zero.
However, zero is a step forward.
Goyal writes, when talking about Sony’s consumer electronics business, zero is good, meaning the business is no longer deep in the red, with Jefferies valuing the division at negative 538 billion yen (around $5.34 billion), Bloomberg reported.
It’s been a tough year for Sony thus far, with the company last month reporting a second quarter net loss of 136 billion yen.
In September, Sony issued a revised forecast of a net loss of 230 billion yen for the fiscal year ending March 31, 2015.
However, this week Sony has released positive forecasts for its game and network services segment, including its PlayStation 4 console, along with its devices segment, which includes its image sensors business, through to 2018.
Sony expects game and network services sales will rise to 1.4-1.6 trillion yen by 2018, up from forecast sales of 1.29 trillion yen for the fiscal year ending March 31, 2015.
In its devices segment, Sony expects sales of 1.3-1.5 trillion yen in 2018, up from 890 billion yen in 2015.
Meanwhile, Sony has flagged changes to its smartphone business next year.
In July, Sony cut its forecast from 50 million to 43 million units, and, subsequently, upon the release of its second quarter results, stated smartphone sales were expected to be below its previous July forecast.
Sony has advised its 2018 financial targets for its mobile communications segment will be announced by the end of the fiscal year ending March 31, 2015.