Sony has announced revenues for its newly formed Mobile division fell by 12.4 percent in financial year 2011 to 5.29 billion (around $6.83 billion) as component shortages hit the company hard.
In all, Sony Mobile made a net loss of 1.15 billion ($1.49 billion) during a year that saw Sony complete its buyout of Sony Ericsson.
The company claims a combination of the Japanese earthquake, floods, and its refocus on smartphones hit the firm hard.
Feature flop
"This decline reflects certain component shortages resulting from the earthquake and the floods, in addition to the lower number of feature phones shipped as a result of focusing on smartphones," Sony said in its financial summary.
The firm also points to Sony Mobile's predecessor, Sony Ericsson, recoding a "valuation allowance of 654 million against certain of its deferred tax assets in Sweden in the quarter ended 31 December, 2011."
On the bright side, Sony expects sales to "increase significantly" over the course of the next financial year, thanks in part to its mobile business now being fully in its hands.
Sony's financial results comes after the firm announced 10,000 jobs are to go throughout the entire company over the course of the next 12 months as it restructures its operations.
[source: Sony (PDF)]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
News
Aug 23rd, 2012
Sony Mobile to cut 15% of global workforce, resulting in the loss of 1,000 jobs by March 2014
Top Stories
News
May 28th, 2024
PocketGamer.biz Podcast - ustwo games’ María Sayans on the sustainable strategy behind Monument Valley
Feature
18 minutes ago
Mobile Mavens: The industry wades in on Squad Busters from its “transformative impact” to being “corporate box ticking”
Feature
May 28th, 2024
Hot Five: Disney x Fortnite, Sega’s sonic speed, and a potential Keywords Studios buyout
Events
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
For The Win 2024 | Europe | May 29th |
Indie Craft K-Game Festival 2024 | Europe | May 31st |
Indie Game Fest & Indie Campus 2024 | Europe | May 31st |
Game Access Conference 2024 | Europe | May 31st |
GDCy Fest 2024 | May 31st | |
GameSummit Summer 2024 | Jun 1st | |
Gaymer Pride | North America | Jun 1st |