Sony raises profit view as higher sensors, videogame sales herald turnaround

Sony Corporation, a Japanese electronics firm, on Wednesday, said that its earnings was raised for the second time in three months.
The company cited higher-than-expected sales of camera sensors and videogames as what raised its earnings.
Sony said it probably made an operating profit of 68 billion yen (380.68 million pounds) in the year ended March 31, compared with 26.5 billion yen a year earlier.
That compares with its previous estimated operating profit of 20 billion yen.
The Tokyo-based firm was finally reaping the benefit of long-haul restructuring efforts after weak TV and smartphone sales brought years of heavy losses.
After massive cost cuts, it had sought targeted expansion under Chief Executive Kazuo Hirai in lucrative areas such as sensors for smartphone cameras.
Sony was set to make its official earnings statement for the year on April 30, following an upward revision in February, the average forecast among 19 analysts for operating profit was 50.3 billion yen.
As part of its restructuring, Sony has spun off its TV business, and also plans split of its audio and video business as part of a new strategy to encourage greater autonomy of its subsidiaries.
The company had struggled to gain market share in high-end smartphones, lagging far behind leaders Apple Inc and Samsung Electronics Co Ltd.
Sony also narrowed its overall net loss estimate to 126 billion yen from 170 billion yen, and raised its revenue estimate to 8.2 trillion yen from 8.0 trillion yen, also cited strength in its financial services unit.
Its shares have risen more than 30 per cent so far this year on signs of progress towards a long-awaited turnaround.
Year-on-year, the shares have nearly doubled, hitting 3,827.50 yen earlier this month, their highest since 2008.