Thursday, 13th May 2010
In Business In Japan,
Sony makes return to profit
Japanese electrical manufacturer Sony has released its latest figures, showing the firm is expected to make a return back to profit during the current financial year.
The firm reported a 40.8 billion yen loss, which is less than 50 per cent of the loss it made in the previous financial year, which stood at almost 99 billion yen. This fall was the company's first annual loss in 14 years.
Following the economic downturn, Sony has put a number of restructuring plans into place and the improved results are down to positive performance on the back of this.
As part of the restructuring plan, some 20,000 jobs were lost and the firm was forced to sell some of its facilities and use outside suppliers for parts for its products.
This year, Sony hopes to make a return to profit by improved sales of 3D televisions and gaming consoles.
The firm is due to begin selling 3D televisions in June.
Written by Kimberley Homer.
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