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Sony's 2012 earnings show a net profit of $458 million, its first since 2008
We've already heard from Sony about the positive effects some of its recent moves like the sales of several of its buildings are having on its finances, and now the company is revealing its detailed results for the last year. Sony has managed a net profit of 43 billion yen ($458 million) in 2012, its first in several years and a good sign after it projected such optimism in last year's results. The most anticipated news is what it projects for 2013, a year where CEO Kaz Hirai has promised better integration between its products and of course, the PlayStation 4. Sony's forecast projects sharply improved sales next year, however it expects the operating income to remain flat with a net profit of 50 billion yen ($506 million). For the year, its TV sales were down 38 percent, reflecting the same drop in the market reported by competitors like Samsung and LG, as well as Sony's cutbacks to reduce its losses. In phones, the newly-consolidated Sony Mobile experienced an increase in sales thanks to the shift to smartphones, however the cost of its inclusion caused the division to lose money. Next year, it's anticipating sales of 42 million smartphones, up from 33 million. In the games division, Sony had a decrease in sales for the PS3, PSP and PS Vita of 12.2 percent from last year, although of course it's counting on the PS4 to turn that around. There aren't any numbers listed for next-gen, but it's expecting sales of PS3 hardware to drop to 10 million units from 16.5 million (including the PS2) the year before. We'll have to wait for the earnings call later this morning to hear more of the company's future projections, for now you can check the links below for the full details on its results.
Barnes & Noble's Q4 and FY 2012: revenue up, losses up, hopes Microsoft hurries up
Barnes & Noble has released its financial results for both the final quarter and full financial year of 2012. It's a picture of a company that's holding steady in the face of continued onslaught from its rivals, albeit with some hope on the horizon. In preparation for its as-yet-unnamed venture with Microsoft, the company has begun the process of spinning off its Nook and College businesses -- while sales from stores and BN.com now come under the umbrella term of "retail." On that front, it sold $1.1 billion worth of books in the quarter and $4.85 billion for the year -- down from $4.92 billion in 2011. Nook-wise, the company had turnover of $933 million, with device sales increasing 1 percent for the quarter and 45 percent of the year -- but had to eat a loss on taking back unsold Simple Touch readers. Content sales on its various devices increased 65 percent in the quarter and 119 percent in the year -- clearly showing where the market is headed.
Nintendo aims to flog 18 million 3DS, up to 10.5 million home consoles this fiscal year
All eyes are on Nintendo, now that it has revealed losses of $460 million. Buried in all of the financial paperwork were the revelations that it sells the 3DS at a loss, its plans for digital distribution and its projected sales figures for this year. It aims to flog 18.5 million 3DS handhelds and 10.5 million Wii consoles by March 31st 2013. But wait, what about the Wii U? That figure actually encompasses both old and new hardware, so it is either hoping for a sharp fall in Wii sales or a tough opening for the new baby. It's a bold pair of figures that relies upon how well New Super Mario Bros 2, Animal Crossing and the new hardware capture the public's imagination in a time when people are tightening their belts (especially if they've been using Wii Fit).
Sharp posts $1.4 billion extraordinary loss, refocuses on mobile displays
Sharp has reported an extraordinary loss of 117.1 billion yen ($1.4 billion) for the financial year ending March 2012. The company has cited restructuring costs and inventory losses as the causes for the write-down, but also projected that its TV business would lose a further 18.7 percent of its projected sales in the current year. The company has decided to convert some of its big-screen LCD production lines into mobile LCDs as it tries to reassert its dwindling display business. It's yet more bad news after the company sold part of its LCD manufacturing business to Hon Hai, Sony withdrew from a joint venture and refused to deal with Sharp in the future, plus an 86 percent collapse in profits.
Logitech president celebrates end-of-year earnings with management cull
Logitech's Q4 and full-year report makes for uncomfortable reading. Despite profits increasing by a factor of nine in the last quarter of the year, overall annual profit fell 44 percent from $143 million to $71 million. The company has already parachuted in former Whirlpool exec. Bracken P. Darrel to turn things around and recover the losses made when the company went big on Google TV. His first action has been to kick-start a restructuring operation that will save $80 million in costs, starting by cutting a whole management layer -- demoting current product VP Junien Labrousse and firing sales VP Werner Heid. Mr. Darrell is now working directly with his team on a new lineup of "stronger" products to be unveiled later this quarter, with an emphasis on Windows 8 peripherals and LifeSize video conferencing gear. [Image credit: Wikimedia Commons]
