Sony (SNE) Expecting Return to Profit after USD5.74 Billion Loss in 2011

New York, May 10 (FinanceEnquiry.com) – As Sony Corp (NYSE : SNE) trims losses in its TV business, the Japanese electronic giant, who posted a record net loss of $5.74 billion last year, is expecting a return to profit this year.

This week, the shares of Sony, valued at below $15.5 billion, dropped to a quarter century low, falling behind rivals Apple (NASDAQ:  AAPL) and Samsung Electronics.

In the year to next March, Sony is expecting the operating profit of 180 billion yen. The company posted an operating loss of 67.3 billion yen in the year just ended. It forecast a full-year net profit of 30 billion yen.

This year, Sony is expecting that the sales of liquid crystal TVs will decline 11 percent to 17.5 million. It even predicted that the sales of its PlayStation games console would also drop 11 percent to 16 million. However, it forecast sales of its new Vita hand-held games console would reach 1.8 million this year.

Though, it has been less than a month for new CEO Kazuo Hirai in the job, he has set the target for group sales of 8.5 trillion yen ($106.85 billion) in two years, with an operating margin of more than 5 percent.

Since the start of the year, Sony shares have slipped 12 percent, while the benchmark Nikkei 225 index has increased nearly 7 percent.

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