Japanese consumer electronics maker Sony Corp said it expects operating profit to more than quadruple this fiscal year, boosted by strong sales of camera sensors and cost cuts in its ailing mobile phone business.
Sony said today it estimates operating profit will grow in the year ending March 2016 to ¥320 billion ($2.70 billion) from ¥68.5 billion in the previous year. Results for the past year were roughly in line with a forecast announced earlier this month.
The outlook for the current year was below the average analyst estimate of ¥408 billion, according to Thomson Reuters. ($1 = 118.6600 yen)