Reuters: Technology News: Sony gadgets struggle despite profit rise, smartphones key

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Sony gadgets struggle despite profit rise, smartphones key May 9th 2013, 06:59 Tweet Share this Email Print Related News Sony sees smartphone sales rising to 42 million this year 2:23am EDT Analysis & Opinion Why Abenomics is leading to a squid shortage in Japan Amid yen weakness, some Asian winners A woman walks past signs of Sony Corp's Bravia LCD TV at an electronics store in Tokyo April 18, 2012. Credit: Reuters/Toru Hanai TOKYO | Thu May 9, 2013 2:23am EDT TOKYO (Reuters) - Sony Corp said it expects operating profit to hold steady in the year to next March after rising to its highest in five years last year, as a weakening yen bolsters overseas sales and makes its consumer electronics business more competitive. Sony this business year forecast operating profit of 230 billion yen ($2.33 billion). That compares with the average estimate of a 210 billion yen profit by 19 analysts surveyed by Thomson Reuters I/B/E/S, before Thursday's announcement of the latest earnings result. Sony for the business year just ended posted an operating profit of 230.1 billion yen, compared with a 67.3 billion yen loss a year ago. The result was in line with the average 229 billion yen profit estimated by six analysts since the company raised its profit forecast to 230 billion on April 25. Since the start of the year Sony's shares have gained 82 percent compared with a 37 percent rise in the benchmark Nikkei 225. Its shares fell 1.4 percent on Thursday to close at 1,744 yen before it released its latest forecast. ($1 = 98.8200 Japanese yen) (Reporting by Tim Kelly; Editing by Edmund Klamann) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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