Sony raises FY 2015 profit forecast to $2.5 billion: Nikkei

Reuters News
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Posted: Apr 24, 2015 10:51 PM

TOKYO (Reuters) - Japanese consumer electronics firm Sony Corp <6758.T> has raised its operating profit estimate for fiscal 2015 to 300 billion yen ($2.52 billion), or four times its previous estimate, the Nikkei reported on Saturday.

Expectations for higher sales of display sensors used in mobile phones and the Playstation gaming console were the reason Sony raised its forecast, the Nikkei reported without citing sources. No one from Sony was available to comment.

Sony also expected earnings in the fiscal year that ends in March 2016 to improve as restructuring costs had been declining, the Nikkei said.

If Sony met its 300 billion yen profit forecast, it would be the company's highest earnings since 2008, the Nikkei said.

Sony on Wednesday raised its earnings estimates for the fiscal year that just ended for the second time in three months, citing higher than expected sales of video games and digital cameras.

The Tokyo-based firm is finally reaping the benefit of restructuring efforts after weak TV and smartphone sales brought years of heavy losses.

(Reporting by Stanley White; Editing by Nick Macfie)