The Sony PlayStation 4 has proven to be a huge boon to the tech company’s sales. On Thursday, Sony reported $780 million in operating profit for the first quarter, up 39% for the year thanks to the video game console.
The company’s video game division reported operating income of $160 million, up 350%, according to TechCrunch.
Sony reported revenue for the quarter at $14.5 billion, which is pretty much in line with last year’s result (down just 0.1% year-over-year).
But while there was good news for some divisions, Sony’s smartphone business reported poor sales. In fact, it lost $184 million due to “strategic decision not to pursue scale in order to improve profitability,” according to the company in its filing.
Per TechCrunch:
Sony isn’t just focused on its best performers, it is also branching out into new businesses, with plans to launch a drone company that captures data for enterprises. It also outed a new crowdfunding platform to showcase new gadgets from its Japanese staff earlier this month, as it aims to accelerate fresh thinking and innovation.
Sony isn’t just focused on its best performers, it is also branching out into new businesses, with plans to launch a drone company that captures data for enterprises. It also outed a new crowdfunding platform to showcase new gadgets from its Japanese staff earlier this month, as it aims to accelerate fresh thinking and innovation.