Investors showed optimism despite Sony reducing its revenue forecast on declining sales of PlayStation 4 games console and televisions. The electronics maker lowered its target for the year ending March 2020 to 8.6 trillion yen , or 200 billion yen less than a forecast in April. Yoshida, who played a key role as finance chief in the company’s turnaround over the past half-decade, kept the profit outlook for the year unchanged.
Sony’s mobile communications business, which includes its flagship Xperia smartphone brand, reported a 1 billion yen profit in the quarter, compared with a 10.8 billion yen loss a year earlier. The company slashed its annual handset sales forecast to 4 million units from 5 million, although it still expects the annual loss to narrow to 47 billion yen.
In electronics products, a segment that includes smartphones and TVs, Sony cut its annual revenue outlook by 3.6% to 2.16 trillion yen. The TV target was cut by half a million to 10.5 million units.
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