TOKYO: Japanese electronics maker Sony Corp on Thursday reported its biggest annual operating profit since fiscal 2007 due to cost cuts in its struggling smartphone business and brisk demand for PlayStation 4 videogames.
Operating profit more than quadrupled to 294.2 billion yen (US$2.70 billion) for the year ended March, roughly in line with the firm’s forecast announced earlier this month.
But between the lines, Sony’s growth prospects may be called into question as its devices business, including image sensors which have been central to revival in recent years, swung to a loss of 29 billion yen from a profit of 89 billion yen a year prior.
As it had previously flagged, Sony did not issue any earnings guidance for this business year as …
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