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Video:  Sony Writes Off $1.5B From Its Mobile Division As It Cuts Smartphone Sales Target Again

Sony Writes Off $1.5B From Its Mobile Division As It Cuts Smartphone Sales Target Again

Clip Syndicate

Sony replaced the head of its mobile division yesterday, and today its latest earnings report gave a clearer indication of why. Sony’s mobile unitincreased its revenuein the last quarter (its fiscal Q2 2014) by 1.2% to $2.83 billion, but the company wrote down the valuation of the business by a whopping $1.59 billion. Overall, the group reported a loss of $785 million despite notching a 7.2% increase in company-wide revenue, which came in at $17.45 billion.

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