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Thursday 19 October 2017

Sony returns to profit after healthy sales figures

This marks an upturn in fortunes on last year's figures for Sony (AP)
This marks an upturn in fortunes on last year's figures for Sony (AP)

Sony has reported a January-March profit of 27.7 billion yen (£194 million) on the back of healthy sales of image sensors, PlayStation 4 game software and batteries for mobile devices, marking a recovery from its red ink a year ago.

Tokyo-based Sony reported an 88 billion yen loss the same period last year.

Sony reported Friday that its quarterly sales rose 4.4% to 1.9 trillion yen (£13 billion).

For the fiscal year through to March, Sony's profit fell 50% to 73.3 billion yen (£512 million) from 148 billion yen, partly because of costs related to repair of damage from a major earthquake that hit south-western Japan in April 2016.

The quake shut down Sony's semiconductor manufacturing facility.

An unfavourable exchange rate also damaged Sony's results.

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