Sony Corporation (ADR) (NYSE:SNE) Plans To Make Smartphones Unit Profitable, 34M Shipment Target

Sony CorporationThe head of Sony Corporation (ADR) (NYSE:SNE)’s unit said on Monday that its plans to make its mobile- device business profitable coming year as it increased shipments of smartphones.

CEO of the unit, told reporters in Tokyo today that the maker of Xperia handsets and tablets aims to sell over 34M smartphones in the year beginning April 1, Kunimasa Suzuki, with no giving a additional specific figure. The firm reported previous month that it is targeting 34M shipments for the present fiscal year.

President of Sony, Kazuo Hirai’s center of attention is mobile devices as a key product to assist to renew the Tokyo-based electronics maker, which is stumbling from four straight annual losses among dropping demand for televisions. Sony acquired its mobile-phone venture with Ericsson AB previous year for 1.05B euros (around $1.4 billion) and is cutting around 15% of the unit’s workforce to make it profitable.

Let’s have a short overview of the financial highlights of the stock, Shares of Sony Corporation surged 4.46% to settle at $15.23 on March 1, 2013.

SNE has 162700 employees. Sales of SNE were 71.27 Billion with net income of -3271.56 million and offer a dividend of $0.30.

SNE stock surged during the trade to the maximum level at $15.28 and at the lowest level of $14.85 after opening price of $14.98. SNE has earning per share of $-3.26 while it has 1.00 billion shares outstanding with institutional ownership of 5%.

The price to sales ratio of SNE in past twelve months was calculated as 0.22 and price to cash ratio remained 1.13. While retunes ratios are concerned, the SNE return on equity ratio is recorded as -14.44% and decreased -2.94% return on investment while its return on asset remain -1.87%.

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