For the first time in the last three years Sony is hoping for better profit margins. Japanese electronics giant is facing difficulties for a comeback in the profit game. For next financial year the maker of walkman expects profit of $1.2 billion. Last year the company reported the loss of 126 billion Yen. If the projections become true it would be a solid reversal in a profit trend. Image sensors made by Sony will fuel this profit growth as the equipment is being used in Apple iPhone.
In the month of November last year, Sony suffered from severe attack from the cyberspace. Its movie studio business has been through losses due to that. For the first time since 1958, the year when company went public, Sony skipped payout last year. The recovery will allow company to payback a dividend per share. New Chief Executive Kazuo Hirai has managed to transform the company. Most conservative estimates by Sony are reporting profits below the best expectations. The experts have often accused Sony for being bullish company. This year company has become quite serious about setting realistic goals.
Chief Financial Officer Kenichiro Yoshida from Sony informed press that Over past seven year guidance have been revised for more than 15 times. The company has been taking all possible steps to achieve the profit target. Rather than riding the profit wagon on quantity, the leadership is focused on increasing per unit profitability. Deep cost cuts have been introduced in US based entertainment division of the Sony.