Tokyo, Oct. 28 (AFP): Japan’s Sony Corp. said today it bounced back into profit in the three months to September from a year earlier due to strong demand for video games and restructuring efforts.
The consumer electronics giant posted a group net profit of 44.1 billion yen ($ 361 million), reversing a 13.2 billion yen loss a year earlier.
Its pre-tax profit over the second quarter surged to 48.8 billion yen from 600 million yen earlier, but sales inched up just 0.5 per cent to 1.79 trillion yen.
“In the electronics business, strong sales of consumer audio visual products, a recovery in our semiconductor and components business and the positive impact of restructuring activities that we accelerated since last year caused a steady improvement in profitability,” said Sony chairman and chief executive Nobuyiki Idei.
“In the game business we achieved an increase in sales and operating income and our PS2 (Playstation 2) business continued its remarkable expansion,” he said in a statement.