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Sony Ups Fiscal Year Forecasts

Sony Ups Fiscal Year ForecastsSony now expects to post a net income loss of 126 billion yen (around $1.35 billion), as opposed to its previous February forecast of a loss of 170 billion yen.

The updated forecast for sales and operating revenue of 8.21 trillion yen is up from Sony’s February forecast of 8 trillion yen, with forecast operating income of 68 billion yen up sharply from Sony’s previously forecast 20 billion yen.

Sony said, when compared to the February forecast, its financial services, music, imaging products and solutions, and game and network services had contributed to the sales rise.

Earlier in the year, Sony unveiled a “mid-term strategy” for the next three years, under which it stated it would position its devices, game and network services, pictures, and music segments to drive profit growth.

In March, Sony announced it had sold more than 20.2 million PlayStation 4 units worldwide as of March 1, with the PS4 continuing to demonstrate the fastest and strongest growth in PlayStation hardware history.

Sony’s results for the fiscal year ended March 31 are scheduled to be announced on April 30.