Sony profits up
Thanks to PlayStation and consumer electronics, but the real money is in action films
Sony has narrowed losses at its consumer electronics business and PlayStation division. Overall it has reported strong Q4 profits, but this is because of top arty martial arts flick Crouching Tiger, Hidden Dragon, and the less good movie Charlie's Angels. Group net income for the three months to 31 March was 15.8 billion yen ($130 million). Sony's results last Q4 were spoiled by losses at its consumer electronics business and PlayStation operation. But Q4 at the game unit was better this year with sales leaping 24.7 per cent to 191.4 billion yen ($1.54 billion) and operating losses slimming down 37 per cent to 16.2 billion yen ($130.7 million). Sony's electronics unit saw Q4 operating losses reduce to 8.9 billion yen ($71.8 million), from 24.8 billion yen ($200 million). Sales at the unit, which makes Vaios as well as TVs, and hi-fis, rose 22.3 per cent to 1.4 trillion yen ($11.3 billion). This division accounted for 76 per cent of sales in fiscal 2000. Group net income fell to 16.7 billion yen ($134.87 million) in the year, from 121.8 billion yen ($980 million) a year earlier. This was down to a one off charge complying with US TV and film advertising rules. Sales rose 9 per cent to 7.3 trillion yen ($58.96 billion).