Sony's FY 2009 operating profit back in black

16:24, May 13, 2010      

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Sony Corp. said Thursday its operating profits returned to the black in fiscal 2009 following massive losses a year earlier as the electronics giant struggled in the economic downturn.

Sony announced that through broad scale cost-cutting initiatives it logged an operating profit of 31.77 billion yen ( 343.71 million U.S. dollars) for the business year ended in March, against a record loss of 227.78 billion yen (2.46 billion U.S. dollars) logged by the electronics giant a year earlier.

The maker of Cyber-shot digital cameras and Bravia flat screen TVs posted a group net loss of 40.80 billion yen (441.41 million U. S. dollars), on sales of 7.21 trillion yen (78 billion U.S. dollars), down 6.7 percent.

For the current fiscal year, Sony expects operating profit of 160 billion yen (1.73 billion U.S. dollars), up 403.6 percent, on sales of 7.6 trillion yen (82.22 billion U.S. dollars) up 5.4 percent, citing its new 3D TVs as expected to bolster revenue.

Sony, having slashed the jobs of more than 20,000 people since the global financial crises in 2008, is betting its future on the success of its next-generation home entertainment 3D technology systems, after the huge success of movies such as Avatar.

"Many people who have experienced 3D content must have seen it in movie theaters, but we are not simply looking to bring 3D movies to your living room, we believe that what Sony can prove is that the whole entertainment world is shifting towards 3D," said Senior General Manager, Akira Shimazu, who heads up Sony's 3D & BD Project Management Division.

Sony's high-end LX900 3D HDTV series, which comes in 60, 52, 46 and 40-inch models, all of which are LED backlit and feature Sony' s unique facial recognition IPS technology and wireless LAN for easy access to a growing amount of 3D web content, hits the stores in Japan in mid-June.



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