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Friday April 13, 8:23 AMSony 07/08 oper profit to surge to Y400 bln-NikkeiTOKYO, April 13 (Reuters) - Sony Corp. will likely see its operating profit rise more than fivefold to 400 billion yen ($3.36 billion) this business year, helped by strong sales of LCD TVs and a recovery in its game division, the Nikkei business daily reported on Friday.Sony's group sales are expected to rise 6 percent to 8.7 trillion yen in the year to March 2008, the newspaper said, citing a consensus forecast of analysts polled by its financial information service Quick. Sony should enjoy increased demand for its liquid crystal display (LCD) televisions in the U.S. and European markets, the Nikkei said, noting that Sony planned to boost unit sales of LCD TVs by about two-thirds to 10 million in 2007/08. But the biggest boost should come from its game division, which is expected to book an operating loss of 200 billion yen in the past business year due to costs related to the launch of the PlayStation 3 video game console, the Nikkei said. Sony will boost PS3 shipments in 2007/08 by about 67 percent to 10 million units, and should also benefit from better semiconductor production yields and cost-cutting efforts, the newspaper said. Sony will also not be burdened by heavy restructuring costs and expenses related to the recall of its lithium-ion batteries, which weighed down profitability in 2006/07, the Nikkei said. The newspaper said Sony should be able to post a group operating profit of 400 billion yen in 2007/08, beating the market consensus of about 350 billion yen and a sharp improvement on the 60 billion yen expected for 2006/07. A Sony spokeswoman said the company could not comment on earnings projections. Twenty analysts polled by Reuters Estimates expect on average that Sony will earn a pretax profit of 381.9 billion yen in 2007/08 and a net profit of 295.0 billion yen. |
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