Sony cuts Q2 2012 losses to $198 million, bumps revenue to $20.6 billion thanks to mobile

After losing a whopping $5.7 billion last year and $312 million last quarter, Sony's recent austerity measures seem to be paying off -- the company lost only $198 million in Q2. The company's been madly restructuring since CEO Kazuo Hirai came on board last year, and recently shuttered a lens plant in Japan while moving its mobile HQ from Sweden to Tokyo. Altogether, 10,000 jobs cuts are projected this year by Sony order to stanch the red ink, and it looks like it's started to pay off. Notably, the company saw a drop in restructuring costs over last year, when it incurred charges during the sell-off of its display businesses.

By division, Sony's mobile operations continue to generate more revenue, gaining $3.9 billion this quarter -- more than double last year's numbers -- though it still lost $296 million compared to $356 million in Q2. Its chip plants turned around last year's losses to gain $382 million this time, likely due in part to its sensors appearing in a large number of various company's DSLRs. Its own imaging division underperformed a bit compared to last quarter but still made a small gain, while its gaming, music and picture businesses each made small gains.

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Filed under: Cellphones, Desktops, Cameras, Home Entertainment, Tablets, Sony

Sony cuts Q2 2012 losses to $198 million, bumps revenue to $20.6 billion thanks to mobile originally appeared on Engadget on Thu, 01 Nov 2012 02:23:00 EDT. Please see our terms for use of feeds.