Sony Profits Fall 18% Despite Success In Audio & CI Market

Sony is expected to post a slump in profits as they struggle to grow their consumer TV business.

The Japanese Company is set to report an 18% drop in net profit to US$1.27 billion for the quarter ended June, according to a poll of analysts.

In Australia the business is having a lot of success selling into the specialist channel with their projectors and 4K TVs via Melbourne based Audio Active, their headphones are also proving popular at JB Hi Fi.

First-quarter revenue is estimated to have increased 7.8% in the last quarter however the business is tipping a revenue decline for the full year of 0.3% with profits falling 10% this fiscal year.

Back in In April, Sony projected that its PlayStation business’s operating profit would increase 8.0% in the fiscal year ending March 2024, following a slump the previous fiscal year caused by the higher costs of software development and other expenses.

The debt-to-equity ratio of Sony Group is 51.6% which is calculated from its total shareholder equity of $52.1 Billion and total debt of $26.9 Billion.

The business is also expanding their direct sell operation worldwide.

About Post Author

David Richards

David Richards has been writing about technology for more than 30 years. A former Fleet Street journalist, he wrote the Award Winning Series on the Federated Ships Painters + Dockers Union for the Bulletin that led to a Royal Commission. He is also a Logie Winner for Outstanding Contribution To TV Journalism with a story called The Werribee Affair. In 1997, he built the largest Australian technology media company and prior to that the third largest PR company that became the foundation company for Ogilvy PR. Today he writes about technology and the impact on both business and consumers.