Sony cuts Fiscal Year 2017 revenue target for devices unit on weaker smartphone demand

By: | Published: June 29, 2016 3:09 PM

Japan's Sony Corp said on Wednesday it expects its image sensor business will miss its revenue target for the 2017 fiscal year because of weakening global demand for smartphones.

sony corporation, sony corporation news, sony smartphone, sony smartphone news, sony fiscal year 2017, sony fiscal year newsSony forecast a revenue range of 1 trillion-1.05 trillion yen (.76 billion-.25 billion) for the year starting April 2017 in its revised medium-term business plan for the devices unit, which includes image sensors. (Reuters)

Japan’s Sony Corp said on Wednesday it expects its image sensor business will miss its revenue target for the 2017 fiscal year because of weakening global demand for smartphones.

Sony forecast a revenue range of 1 trillion-1.05 trillion yen ($9.76 billion-$10.25 billion) for the year starting April 2017 in its revised medium-term business plan for the devices unit, which includes image sensors.

Also Read: Sony lifts revenue target for games, but cuts outlook for image sensors

That was lower than the previous target of 1.3 trillion-1.5 trillion yen.

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