Sony Corporation released their Q1 2016 results earlier today for the three months ended on March 2016. The Japanese brand has reported that their sales and operating revenue is down 20% when compared with the same quarter of last year. That is, in 2015 Q1, company reported 1,410.2 Billion Yen sales, while this year it’s down to 1,127.5 Billion Yen.
This is the time of year when companies releases full reports regarding their sales revenue and everything related to company’s profit and loss happened during that quarter. Any brands have seen going that graph down this quarter, the brands such as LG and Apple has seen drop in revenue. It is the first time in 13 years that the Cupertino giant is seeing drop with iPhone sales sinking to the ground.
Though, there were companies like Samsung, which saw jump in sales revenue, as their Galaxy S7 handset has been performing quite good in the market. The brand also strategically planned the launch of its device during late February in MWC Barcelona and later started selling their device across the world within a month or so. That proved certainly helpful to the company.
While even after experiencing the same situation, drop on mobile devices sales last year, the Japanese brand hasn’t learned a lot about strategy. Much less about introducing good devices. Their Xperia series launched last year failed miserably, as the demand decreased for their premium devices. The reasoning company gave in the financial report was that they are not pursuing the scale in order to improve profitability. Instead company seems to be focused in creating a brand for themselves in a premium segment.
Sony announced its new Xperia X Series of smartphones in the month of February, which included three handsets; XA, X Performance and X Premium. Not even a single handset since the announcement has been made available for purchase by the company in any region. So, it was obvious that company who has finally dumped its Z Series for new X Series, should have done something different in terms of strategy. Because their current plans have not lead to better results.