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Sony sees 5-fold jump in profit, below consensus

Sony has shed jobs, shut factories and cut procurement costs to better compete with global rivals such as Samsung Electronics Co in TVs and Apple Inc in portable music, and now hopes to reap the fruit of its restructuring.

The world's No.2 LCD TV maker behind Samsung has vowed to turn its television and game operations profitable this year by slashing production costs and boosting unit sales, and helped by the launch of 3D TVs and 3D-ready games in June.

Chief Executive Howard Stringer believes Sony is best positioned to benefit from growing consumer interest in 3D images given its wide business portfolio spread across electronics and entertainment that includes movie studios, theatre-use projectors and professional-grade video cameras.

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uk.reuters.com
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