Sony Teases a Big Expansion Into Electric Vehicles With a Concept Car
Sony (NYSE: SNE) recently stunned attendees at CES 2020 by unveiling an electric concept car called the Vision-S. The prototype car looks sleek, but Sony isn't entering the EV market to compete against Tesla or NIO -- it merely manufactured the car as a showcase for its other technologies. Let's see how those technologies could shape Sony's future.
Sony's image and sensing solutions (I&SS) unit has been its core growth engine over the past year. It generates most of its revenue by selling image sensors to smartphone makers, and sales have been surging on the rise of multi-camera phones.
Sony's I&SS revenue rose 19% annually to 541.4 billion yen ($5 billion), or 13% of its top line, in the first half of fiscal 2019. Its operating profit soared 63% to 125.9 billion yen ($1.2 billion), accounting for a quarter of Sony's operating profits.
Source Fool.com