Sony profits rise

Editorial Team
Editorial Team
Sony profits rise

Sony has reported a rise in profits for the April-to-June quarter thanks to what it called “the favourable impact of foreign exchange rates”.

Also aided by a surge in smartphone sales, the firm made a net profit of 3.5 billion yen in the quarter, reversing a loss of 24.6 billion yen last year.

Sony has been trying to restructure its business model and reduce its costs and has been amongst several Japanese firms that have seen their profits jump amid a sharp decline in the yen’s value.

The yen has dipped nearly 25 percent against the U.S. dollar since November.

Sony raised its sales forecast for the current financial year to 7.9 trillion yen from its projection of 7.5 trillion yen in May.

Image: © Getty

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.