Sony Reports Record Profits on Sales on Image Sensors

Sony Reports Record Profits on Sales on Image Sensors

HIGHLIGHTS

  • Success of Spider-Man: Homecoming has fuelled hopes of a rise in earnings
  • Profit increased 2.8 times to JPY 157.61 billion
  • The profit surge comes mainly from Sony’s image sensor business

Japan’s Sony on Tuesday reported its highest-ever first-quarter operating profit, taking the electronics giant one step toward its highest annual profit in two decades on the back of robust sales of image sensors.

In a vote of confidence for Sony’s turnaround under Chief Executive Officer Kazuo Hirai, the firm’s shares have risen by around 40 percent this year to nine-year highs.

The box-office success of its Spider-Man: Homecoming (Review) film has also fuelled hopes of a rise in earnings for Sony’s pictures business, which is working through a restructuring plan.

Profit increased 2.8 times to JPY 157.61 billion ($1.43 billion or roughly Rs. 9,164 crores) in April-June, exceeding the previous first-quarter record of JPY 121.3 billion set in 2007.

The result compared with a Thomson Reuters Starmine SmartEstimate of JPY 129.14 billion drawn from 10 analyst views.

The profit surge comes mainly as Sony’s image sensor business returned to stability having recovered from earthquake damage sustained a year ago, the company said.

Sony’s semiconductor division, which includes image sensors, posted an operating profit of 55.4 billion yen, reversing the year-earlier loss of JPY 43.5 billion, as operations at a key plant fully resumed to meet brisk demand for image sensors for smartphones.

The consumer electronics business was also profitable as it focused on high-end television sets and smartphones without seeking to increase in scale.

Together, strong performance across Sony’s divisions is pushing profit to golden-era levels. Nevertheless, analysts said the firm is yet to find long-term drivers of growth.

With the future in mind, Sony is using its newly recovered financial strength to venture into acquisitions. On Monday, it said it had bought most of the distributor of the English-language versions of Dragon Ball Z and One Piece animations.

The firm maintained its profit forecast of JPY 500 billion for the year ending March.

While that is below the market’s average forecast of JPY 562.19 billion, it would still be the highest since the company made JPY 526 billion in the year ended March 1998, when it enjoyed strong sales of its first PlayStation games console and other electronics. It also benefited from box-office hit Men in Black.

[“Source-gadgets.ndtv”]

US markets lower after tech reversal from record highs

Businessman sleeping with bear with down trend graph

US markets closed lower on Thursday after technology sector rolled over.

The Nasdaq composite closed 0.6% lower at 2,475.42 and fell more than 1% earlier in the session. The S&P 500 also closed lower at 6,382.19, slipping 0.1% as tech stocks dropped 0.8 % to lead decliners.

The tech sector had notched an intraday record earlier in the session, along with the Nasdaq and the S&P.

Tech faced pressure as investors took profits off the table following strong earnings from companies in the space.

The Dow Jones Industrial Average, outperformed, closing 85.54 points higher at 21,796.55 level and notching intraday and closing records.

Meanwhile, initial jobless claims came in at 244,000, slightly above the expected 240,000. Durable goods orders, meanwhile, rose 6.5% in June.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

[“Source-indiainfoline”]

App Store New Year’s Day Purchases at Record $240 Million; Over $20 Billion Paid to Developers in 2016

App Store New Year's Day Purchases at Record $240 Million; Over $20 Billion Paid to Developers in 2016
HIGHLIGHTS
App Store purchases topped $3 billion in December
Developers have earned over $60 billion since 2008
The App Store offers 2.2 million apps in total
Apple on Thursday announced that the New Year’s Day 2017 was the biggest day ever for the App Store, with nearly $240 million (approximately Rs. 1,630 crores) in purchases worldwide on that day alone. That hints at robust sales of Apple devices during the crucial October to December quarter, ahead of Apple’s earnings call later this month.

The Cupertino giant also announced that developers earned over $20 billion (approximately Rs. 1,35,895 crores) in 2016, up over 40 percent from the year before. Holiday spend was also at record levels, Apple said, with purchases from the App Store topping $3 billion (approximately Rs. 20,381 crores) in December.

“2016 was a record-shattering year for the App Store, generating $20 billion for developers, and 2017 is off to a great start with Jan. 1 as the single biggest day ever on the App Store,” said Philip Schiller, Apple’s Senior Vice President of Worldwide Marketing. “We want to thank our entire developer community for the many innovative apps they have created – which together with our products – help to truly enrich people’s lives.”

Apple also announced that since the App Store launched in 2008, developers have earned over $60 billion (approximately Rs. 4,07,687 crores) across iPhone, iPad, Apple Watch, Apple TV, and Mac platforms. Since Apple keeps 30 percent of most App Store revenue, passing on the rest to the developers, that means lifetime sales on the App Store have now topped $85 billion (approximately Rs. 5,77,515 crores). China App Store revenue in 2016 saw ‘record’ 90 percent year-over-year growth.
The App Store offers 2.2 million apps in total, up over 20 percent from last year, and is available in 155 countries. iPhone and iPad customers grew the App Store’s subscription billings significantly in 2016, to $2.7 billion (approximately Rs. 18,347 crores), up 74 percent from 2015.

Apple also announced that since iOS 10 launched in September, developers have shipped over 21,000 iMessage apps to send stickers and collaborate with friends.

Analytics firm Flurry estimated that Apple accounted for 44 percent of device activations during the holiday period, a healthy figure, but down slightly over the previous two years.

For the latest coverage from the Consumer Electronics Show in Las Vegas, visit our CES 2017 hub.
Tags: Apple, App Store, Apps, App Store Purchases

[“Source-Gadgets”]

WhatsApp Used to Send a Record 14 Billion Messages on New Year’s Eve in India

WhatsApp Used to Send a Record 14 Billion Messages on New Year's Eve in India

WhatsApp Used to Send a Record 14 Billion Messages on New Year’s Eve in India
HIGHLIGHTS
3.1 billion images, 700 million GIFs, and 610 million videos were sent
WhatsApp recently rolled out the ability to share GIF images
WhatsApp has more than 160 million monthly active users in India
On New Year’s Eve, 14 billion messages were exchanged through WhatsApp in India, 32 percent of which were in some form of media – photos, GIF images, videos, and voice messages, the Facebook-owned instant messaging app said on Friday.

The number of messages shared on the platform on New Year’s Eve is even higher than the last record set during Diwali when 8 billion messages were sent in one day, WhatsApp said.

A total of 3.1 billion images, 700 million GIF images, and 610 million videos were sent on WhatsApp on the occasion. WhatsApp has more than 160 million monthly active users in India.

Interestingly, WhatsApp only recently rolled out the ability to share animated GIF images on the platform. WhatsApp for iPhone got the feature back in November, while WhatsApp for Android got the feature in December. Android recently also got the ability to stream shared videos, letting users view videos before they were downloaded.
Last month, a major new feature was reportedly spotted in the WhatsApp for iPhone beta – the ability to revoke and edit sent messages. Several other messaging apps offer similar features, and their addition to WhatsApp will certainly be well-received. Also spotted was the ability to preview shared archive files.

Notably, WhatsApp stopped working on older versions of Android, iOS, and Windows Phone on December 31. Devices running on Android 2.2 or lower, iOS 6 or lower, and Windows Phone 7 are no longer supported by the app.

Written with inputs from IANS

For the latest coverage from the Consumer Electronics Show in Las Vegas, visit our CES 2017 hub.
Tags: WhatsApp, WhatsApp India, Apps, India

[“source-smallbiztrends”]