Sony recently shared its sales activity for its Xperia series for the first quarter of 2021; it shipped nearly 400,000 Xperia smartphones. The sales activity was almost similar to what the company experienced in Q1 of 2020. So we could say it wasn’t a bad start.
However, if we compare it with the previous quarter, i.e. Q4 of 2020, where the company shipped 1 million Xperia smartphones, we get a sign of concern.
Sony’s fiscal year run from April to March. So if we look at its fiscal year 2020 (April 2020 to March 2021), we get a total activity of 2.9 million, only for the Xperia smartphones – not bad. What if I say ‘no’! The company sold nearly 3.2 million Xperia devices in FY19, a decline of nearly 9.4% over the year. This isn’t good since companies tend to move upward, while Sony is going in the opposite direction.
Luckily for the company, Sony reported that it made a profit in FY20 since FY17. Sony reported a profit of 27.67 billion JPY ($254.96 million) for the year ending March 2021. This happened after significant cost deductions in the Xperia division. Keep in mind that we are talking about its mobile business and not its overall line of businesses.
One more thing to disclose here – that was the profit for the whole year (FY20). The company still made a loss of 14.12 billion JPY ($129.58 million) in Q1 of 2021.
It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news blogger for the past few months, it still feels good to be part of the team. Besides this, I am working with a Canadian-based real estate business and running my own financial blog.