Sony forecasts record annual profit

Driven by gaming and smartphone parts.

Sony is expected to deliver record annual profits with strong sales coming from its PlayStation games division and smartphone parts. The electronics and entertainment firm has forecast a 380 billion yen (US$3.4 billion) net profit for the fiscal year to March and an operating profit of 630 billion (US$5.6 billion).

The company cited improved results for its semiconductor business which includes image sensors found in smartphone cameras and healthy motion picture business, particularly from Spider-Man: Homecoming, for the profit forecast.  Profits for Sony’s home appliances and TVs also improved thanks to a shift to higher-end models.

The strong turnaround in sales follows earlier decisions to cut thousands of jobs and an asset sell-off that included its Vaio laptop computer division.

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