Form 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January 2008
Commission File Number: 001-06439
SONY CORPORATION
(Translation of registrant's name into English)
1-7-1 KONAN, MINATO-KU, TOKYO, 108-0075, JAPAN
(Address of principal executive offices)
The registrant files annual reports under cover of Form 20-F.
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F,
Form 20-F X Form 40-F __
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934,
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):82-______
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SONY CORPORATION
(Registrant)
By: /s/ Nobuyuki Oneda
(Signature)
Nobuyuki Oneda
Executive Vice President and
Chief Financial Officer
Date: January 16, 2008
List of materials
Documents attached hereto:
i) Press release announcing: 'Sony Ericsson sells over 100 million handsets
in 2007'
SONY ERICSSON
PRESS RELEASE January 16, 2008
Sony Ericsson sells over 100 million handsets in 2007
Q4 Highlights:
- 18% increase in volume year-on-year
- Continued market share gains and profitable growth
- Continued investment for the future
2007 Highlights:
- Over 100 million units sold - more than double global market growth rate
- Margins remain strong as company shifts to broader portfolio
- Unit growth underpinned by increased sales of lower priced phones
- 145 million music enabled phones sold to date, of which 57 million were
Walkman(R) phones - maintaining leadership in music
The consolidated financial summary for Sony Ericsson Mobile Communications AB
(Sony Ericsson) for the fourth quarter ended December 31, 2007 is as follows:
Q4 2006 Q3 2007 Q4 2007 2006 FY 2007 FY
_______ _______ _______ _______ _______
Number of units shipped (million) 26.0 25.9 30.8 74.8 103.4
Sales (Euro m.) 3,782 3,108 3,771 10,959 12,916
Gross Margin (%) 29.0% 30.7% 31.8% 29.1% 30.6%
Operating Income (Euro m.) 484 393 489 1,257 1,544
Operating Margin (%) 12.8% 12.7% 13.0% 11.5% 11.9%
Income before taxes (Euro m.) 502 384 501 1,298 1,574
Net Income (Euro m.) 447 267 373 997 1,114
Average Sales Price (Euro) 146 120 123 146 125
Units shipped in the quarter reached 30.8 million, a 18% increase compared to
the same period last year, generating continued sequential and year-on-year
market share gains. Sales for the quarter were Euro 3,771 million, in line with
sales a year ago reflecting a strategic shift to a greater proportion of lower
priced handsets in the product portfolio. Income before taxes for the quarter
was Euro 501 million in line with a year ago. Net income for the quarter was
Euro 373 million.
Sony Ericsson gained market share during the quarter due to the continued
success of such products as the K550 Cyber-shot(TM) and the W200, W300 and W580
Walkman(R) phones in the Americas and Europe. Although Average Selling Price
(ASP) increased slightly sequentially during the quarter, as a result of the
introduction of new flag-ship Walkman(R) and Cyber-shot(TM) phones such as the
W910 and K850 models, the trend for falling ASPs year-on-year reflects the
company's direction to broaden its product portfolio.
"Sony Ericsson finished a very good year, which highlighted how the company has
strategically positioned itself to capture market share with an expanded product
portfolio. Investments are being made in both R&D and brand building, to deepen
the portfolio and strengthen Sony Ericsson's presence in new and developing
markets around the world. Our target remains to become one of the top three
players in the industry, and the momentum we established in 2006 and 2007 makes
this a realistic and achievable ambition," said Dick Komiyama, President of Sony
Ericsson.
Sony Ericsson estimates the 2007 global handset market as being over 1.1 billion
units, in line with previous forecasts. On this basis the company believes it
grew market share around 2 percentage points to reach approximately 9% for the
full year 2007 compared to full year 2006.
During the fourth quarter Sony Ericsson announced that it had entered into a
series of agreements with Motorola, Inc. whereby Motorola acquired 50% of the
share capital in U.I. Holdings BV, the Dutch owner of the Swedish software
company UIQ Technology AB, which was acquired by Sony Ericsson from Symbian Ltd.
earlier in the year. The transaction was ratified by the appropriate competition
authorities during the quarter.
Sony Ericsson announced a number of new products during the quarter including
high-end W890 Walkman(R) and the K630 and the K660 HSDPA web phone. The company
also announced its strategy to expand Sony Ericsson's PlayNow(TM) digital
content distribution application into a full service proposition during 2008.
On November 1, 2007 Sony Ericsson's president Miles Flint stepped down and
Hideki 'Dick' Komiyama joined the company to replace him. Dick Komiyama joined
Sony Ericsson from Sony Corporation where he was Director, Chairman, Sony
Electronics Inc., USA, and Executive Vice President of Electronics Marketing and
Sales Strategies of Sony Corporation, Japan.
WALKMAN(R) and Cyber-shot(TM) are trademarks or registered trademarks of Sony
Corporation.
PlayNow(TM) is a trademark of Sony Ericsson.
EDITOR'S NOTES:
Financial Statements and Additional Information:
Financial Statements:
Consolidated Income Statement
Consolidated Income Statement - Year-to-Date
Consolidated Income Statement - Isolated Quarters
Consolidated Balance Sheet
Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows - Year-to-Date
Consolidated Statement of Cash Flows - Isolated Quarters
Additional Information:
Net Sales by Market Area by Quarter
- ENDS -
Sony Ericsson Mobile Communications was established as a 50:50 joint venture by
Sony and Ericsson in October 2001, with global corporate functions located in
London. The company serves the worldwide communications market with innovative
and feature-rich mobile phones, accessories and PC-cards, and it has R&D sites
in Europe, Japan, China, India and America. Sony Ericsson is the title sponsor
of the Women's Tennis Association, and works with the Association to promote the
Sony Ericsson WTA Tour in over 80 cities during the year. For more information,
please visit www.sonyericsson.com
CONTACTS:
Investors/Analysts
Ericsson Investor Relations
Gary Pinkham (Stockholm) +46 8 719 0858
Sony Investor Relations
Shinji Tomita (London) +44 207 444 9713
Tatsuyuki Sonoda (Tokyo) +81 3 6748 2180
Press/Media
Sony Ericsson Corporate Communications & PR
Aldo Liguori (London) +44 208 762 5860
Merran Wrigley (London) +44 208 762 5862
This press release contains forward-looking statements that involve inherent
risks and uncertainties. We have identified certain important factors that may
cause actual results to differ materially from those contained in such
forward-looking statements. For a detailed description of risk factors see
Sony's and Ericsson's filings with the US Securities and Exchange Commission,
particularly each company's latest published Annual Report on Form 20-F.
Sony Ericsson
CONSOLIDATED INCOME STATEMENT
Oct-Dec
___________________________________
EUR million 2007 2006 Change
____________________________________________________________________________
Net sales 3,771 3,782 0%
Cost of sales -2,573 -2,686 -4%
_____________________
Gross profit 1,198 1,096 9%
Gross margin % 31.8% 29.0% 3%
Research and development expenses -349 -256 36%
Selling and administrative expenses -375 -367 2%
_____________________
Operating expenses -724 -623 16%
Other operating income, net 15 10 43%
_____________________
Operating income 489 484 1%
Operating margin % 13.0% 12.8% 0%
Financial income 19 19 3%
Financial expenses -7 0 -
_____________________
Income after financial items 501 502 0%
Taxes -118 -43 176%
Minority interest -10 -12 -18%
_____________________
Net income 373 447 -17%
Number of units shipped (million) 30.8 26.0 18%
ASP (EUR) 123 146 -16%
Sony Ericsson
CONSOLIDATED INCOME STATEMENT
Jan-Dec
___________________________________
EUR million 2007 2006 Change
____________________________________________________________________________
Net sales 12,916 10,959 18%
Cost of sales -8,958 -7,775 15%
_____________________
Gross profit 3,958 3,184 24%
Gross margin % 30.6% 29.1% 2%
Research and development expenses -1,173 -906 29%
Selling and administrative expenses -1,260 -1,086 16%
_____________________
Operating expenses -2,432 -1,992 22%
Other operating income, net 18 65 -74%
_____________________
Operating income 1,544 1,257 23%
Operating margin % 11.9% 11.5% 0%
Financial income 62 43 43%
Financial expenses -32 -2 -
_____________________
Income after financial items 1,574 1,298 21%
Taxes -423 -267 59%
Minority interest -36 -33 9%
_____________________
Net income 1,114 997 12%
Number of units shipped (million) 103.4 74.8 38%
ASP (EUR) 125 146 -15%
Sony Ericsson
CONSOLIDATED INCOME STATEMENT - ISOLATED QUARTERS
2007 2006
___________________________ ___________________________
EUR million Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
_______________________________________________________________________________
Net sales 3,771 3,108 3,112 2,925 3,782 2,913 2,272 1,992
Cost of sales -2,573 -2,154 -2,192 -2,039 -2,686 -1,995 -1,625 -1,469
___________________________ ___________________________
Gross profit 1,198 954 921 886 1,096 917 647 524
Gross margin % 31.8% 30.7% 29.6% 30.3% 29.0% 31.5% 28.5% 26.3%
Research and
development expenses -349 -280 -283 -261 -256 -225 -223 -202
Selling and
administrative
expenses -375 -280 -321 -284 -367 -287 -246 -186
___________________________ ___________________________
Operating expenses -724 -560 -604 -545 -623 -511 -470 -388
Other operating
income, net 15 -1 -2 5 10 21 26 7
___________________________ ___________________________
Operating income 489 393 315 346 484 427 203 143
Operating margin % 13.0% 12.7% 10.1% 11.8% 12.8% 14.6% 8.9% 7.2%
___________________________ ___________________________
Financial income 19 7 18 18 19 8 8 9
Financial expenses -7 -16 -6 -2 0 -1 0 0
___________________________ ___________________________
Income after financial
items 501 384 327 362 502 433 211 151
___________________________ ___________________________
Taxes -118 -109 -97 -100 -43 -127 -64 -34
Minority interest -10 -8 -10 -9 -12 -8 -5 -9
___________________________ ___________________________
Net income 373 267 220 254 447 298 143 109
Number of units
shipped (million) 30.8 25.9 24.9 21.8 26.0 19.8 15.7 13.3
ASP (EUR) 123 120 125 134 146 147 145 149
Sony Ericsson
CONSOLIDATED BALANCE SHEET
Dec 31 Sep 30 Dec 31
EUR million 2007 2007 2006
________________________________________________________________________
ASSETS
Total fixed and financial assets 572 511 469
Current assets
Inventories 437 620 437
Accounts receivables 1,870 1,803 1,653
Other assets 345 544 310
Other short-term cash investments 1,431 954 1,580
Cash and bank 724 804 693
_______ _______ _______
Total current assets 4,808 4,725 4,673
________________________________________________________________________
Total assets 5,380 5,236 5,141
________________________________________________________________________
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity 2,026 1,663 1,781
Minority interest 64 70 45
_______ _______ _______
Total equity 2,090 1,733 1,826
Total long-term liabilities 26 22 20
Accounts payable 1,263 1,602 1,276
Other current liabilities 2,001 1,879 2,019
_______ _______ _______
Total current liabilities 3,264 3,481 3,296
________________________________________________________________________
Total shareholders' equity and 5,380 5,236 5,141
liabilities
________________________________________________________________________
Net cash* 2,155 1,758 2,272
* Net cash is defined as cash and bank plus short-term cash investments less
interest bearing liabilities.
Sony Ericsson
CONSOLIDATED STATEMENT OF CASH FLOWS
Oct-Dec
__________________________
EUR million 2007 2006
___________________________________________________________________________
OPERATIONS
Net income 373 447
Adjustments to reconcile net income to cash 17 23
__________________________
390 470
Changes in operating net assets 44 50
__________________________
Cash flow from operating activities 434 520
INVESTMENTS
Investing activities -27 -26
__________________________
Cash flow from investing activities -27 -26
FINANCING
Financing activities 0 - 66
__________________________
Cash flow from financing activities 0 -66
Net change in cash 408 428
Cash, beginning of period 1,758 1,861
Translation difference in Cash -10 -16
__________________________
Cash, end of period 2,155 2,273
___________________________________________________________________________
Sony Ericsson
CONSOLIDATED STATEMENT OF CASH FLOWS
Jan-Dec
__________________________
EUR million 2007 2006
___________________________________________________________________________
OPERATIONS
Net income 1,114 997
Adjustments to reconcile net income to cash 107 85
__________________________
1,221 1,082
Changes in operating net assets -305 100
__________________________
Cash flow from operating activities 916 1,182
INVESTMENTS
Investing activities -164 -134
__________________________
Cash flow from investing activities -164 -134
FINANCING
Financing activities - 849 -278
__________________________
Cash flow from financing activities -849 -278
Net change in cash -97 770
Cash, beginning of period 2,273 1,537
Translation difference in Cash -21 -34
__________________________
Cash, end of period 2,155 2,273
___________________________________________________________________________
Sony Ericsson
CONSOLIDATED STATEMENT OF CASH FLOWS - ISOLATED QUARTERS
Oct-Dec Jul-Sep Apr-Jun Jan-Mar Oct-Dec Jul-Sep Apr-Jun Jan-Mar
_______________________________________________________________
EUR million 2007 2007 2007 2007 2006 2006 2006 2006
________________________________________________________________________________
OPERATIONS
Net income 373 267 220 254 447 298 143 109
Adjustments to
reconcile net
income to cash 17 32 30 28 23 20 22 20
_______________________________________________________________
390 299 250 282 470 318 165 129
Changes in
operating net
assets 44 88 16 -454 50 -21 18 53
_______________________________________________________________
Cash flow from
operating
activities 434 387 266 -172 520 297 183 182
INVESTMENTS
Investing
activities -27 -53 -31 -53 -26 -36 -29 -43
_______________________________________________________________
Cash flow from
investing
activities -27 -53 -31 -53 -26 -36 -29 -43
FINANCING
Financing
activities 0 - 300 - 548 - 1 - 66 - 2 26 - 236
_______________________________________________________________
Cash flow from
financing
activities 0 -300 -548 -1 -66 -2 26 -236
Net change in cash 408 34 -312 -226 428 259 180 -97
Cash, beginning of
period 1,758 1,730 2,045 2,273 1,861 1,595 1,428 1,537
Translation
difference in Cash -10 -6 -3 -2 -16 7 -13 -12
_______________________________________________________________
Cash, end of
period 2,155 1,758 1,730 2,045 2,273 1,861 1,595 1,428
________________________________________________________________________________
Sony Ericsson
NET SALES BY MARKET AREA BY QUARTER
EUR million
2007 2006
____________________________ ____________________________
Isolated quarters Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
________________________________________________________________________________
Europe, Middle East
& Africa * 2,251 1,715 1,729 1,598 2,145 1,600 1,090 1,029
Americas 636 573 499 365 555 417 328 250
Asia 884 820 885 961 1,082 896 853 713
________________________________________________________________________________
Total 3,771 3,108 3,112 2,925 3,782 2,913 2,272 1,992
________________________________________________________________________________
* of which Western
Europe 1,569 1,103 1,102 1,078 1,478 1,115 748 674
2007 2006
____________________________ ____________________________
Sequential change (%) Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
________________________________________________________________________________
Europe, Middle East
& Africa * 31% -1% 8% -26% 34% 47% 6% -27%
Americas 11% 15% 37% -34% 33% 27% 31% -19%
Asia 8% -7% -8% -11% 21% 5% 20% 20%
________________________________________________________________________________
Total 21% 0% 6% -23% 30% 28% 14% -14%
________________________________________________________________________________
* of which Western
Europe 42% 0% 2% -27% 33% 49% 11% -35%
2007 2006
____________________________ ____________________________
Year over year
change (%) Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
________________________________________________________________________________
Europe, Middle East
& Africa * 5% 7% 59% 55% 52% 35% 43% 71%
Americas 15% 37% 52% 46% 79% 77% 53% 53%
Asia -18% -8% 4% 35% 83% 42% 33% 36%
________________________________________________________________________________
Total 0% 7% 37% 47% 64% 42% 41% 55%
________________________________________________________________________________
* of which Western
Europe 6% -1% 47% 60% 45% 33% 42% 84%
2007 2006
____________________________ ____________________________
Year to date 0712 0709 0706 0703 0612 0609 0606 0603
________________________________________________________________________________
Europe, Middle East
& Africa * 7,293 5,042 3,328 1,598 5,865 3,720 2,120 1,029
Americas 2,072 1,436 864 365 1,550 995 578 250
Asia 3,550 2,666 1,846 961 3,544 2,462 1,566 713
________________________________________________________________________________
Total 12,916 9,145 6,037 2,925 10,959 7,177 4,264 1,992
________________________________________________________________________________
* of which Western
Europe 4,852 3,283 2,179 1,078 4,014 2,537 1,422 674
2007 2006
____________________________ ____________________________
YTD year over year
change (%) 0712 0709 0706 0703 0612 0609 0606 0603
________________________________________________________________________________
Europe, Middle East
& Africa * 24% 36% 57% 55% 48% 46% 56% 71%
Americas 34% 44% 49% 46% 68% 62% 53% 53%
Asia 0% 8% 18% 35% 48% 37% 35% 36%
________________________________________________________________________________
Total 18% 27% 42% 47% 51% 45% 47% 55%
________________________________________________________________________________
* of which Western
Europe 21% 29% 53% 60% 46% 46% 59% 84%