The Sony PlayStation 4 has proven to be a huge boon to the tech company’s sales. On Thursday, Sony reported $780 million in operating profit for the first quarter, up 39% for the year thanks to the video game console.
The company’s video game division reported operating income of $160 million, up 350%, according to TechCrunch.
Sony reported revenue for the quarter at $14.5 billion, which is pretty much in line with last year’s result (down just 0.1% year-over-year).
But while there was good news for some divisions, Sony’s smartphone business reported poor sales. In fact, it lost $184 million due to “strategic decision not to pursue scale in order to improve profitability,” according to the company in its filing.
Per TechCrunch:
Sony isn’t just focused on its best performers, it is also branching out into new businesses, with plans to launch a drone company that captures data for enterprises. It also outed a new crowdfunding platform to showcase new gadgets from its Japanese staff earlier this month, as it aims to accelerate fresh thinking and innovation.
