Sony just released their Q1 financial report (download the pdf
). Before to jump to the pure financial analysis there is an interesting new info. Sony writes:
Sony aims to enhance its profitability through initiatives such as adding new models to the ‘DSC-RX’ series, which created a market for high end compact digital cameras with large image sensores developed by Sony last year
Indeed the RX100MII is selling fine in US (Amazon ranking here)
. And regarding the future RX models…I will soon post a rumor about a new RX FF camera. Stay tuned on SAR!
Now back to the financial analysys. There is a good and a bad news to report. First the good news. There is a small overall profit of $35 million. Finally Sony is writing Black numbers. The small bad news is that Imaging Division earnings dropped by 10% mainly because of “significant decrease in unit sales of video cameras and compact digital cameras“. Here is the full info regarding the Imaging Division:
Sales (Imaging Products & Solutions)
decreased 10.4% year-on-year (a 26% decrease on a constant currency basis) to 173.6 billion yen (1,753 million U.S. dollars). This decrease was primarily due to a significant decrease in unit sales of video cameras and compact digital cameras reflecting a contraction of these markets, partially offset by the favorable impact of foreign exchange rates during the current quarter.
Outlook (Imaging Products & Solutions)
The outlook for overall segment sales remains unchanged from the May forecast primarily due to the favorable impact of foreign exchange rates, offset by a downward revision in the annual unit sales forecasts of video cameras and digital cameras. The outlook for operating income also remains unchanged from the May forecast due to the favorable impact of foreign exchange rates and expected cost improvements, despite a downward revision in the forecast for unit sales. Sales are expected to increase and operating income is expected to improve significantly year-on-year.
I think the next camera release could push the Imaging Division earnings. There are plenty of new cameras to come within the next 6 months. NEX-FF, A-mount mirrorless, APS-C cameras, new RX cameras….quite a lot of things!