Sony: Stronger sales to extend rally

JAPANESE consumer electronics firm Sony yesterday raised its earnings estimates for the second time in three months, citing higher-than-expected sales of camera sensors and video games. Sony said it probably made an operating profit of ¥68 billion (R7bn) in the year to March, compared with ¥26.5bn a year earlier. The Tokyo-based company is finally reaping the benefit of long-haul restructuring efforts after weak television and smartphone sales brought years of heavy losses. After huge cost cuts, it has sought targeted expansion under chief executive Kazuo Hirai in lucrative areas such as sensors for smartphone cameras. – Reuters