Sony’s DVD and Blu-ray Business Sees Q3 Fall

Sony has issued its third quarter results (for last quarter of 2016) for the Home Entertainment and Sound division The division, which includes LCD TVs, Blu-ray and DVD players and recorders as well as audio devices, saw a decrease in sales by 12.1% year-on-year. The decrease was primarily due a decrease in home audio and video unit sales reflecting a contraction of the market as well as currency fluctuations. Sony also reported that the TV business continues to be highly volatile.

DVD and Blu-ray income fell at a faster pace than Sony expected, obliging the company to take a $976m (Y112bn) impairment on its movie business. Sony took an impairment charge on the same business in 2014 as the demand for physical media was contracting faster than anticipated.