Sony swings to profit on sales of cameras and PCs

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Vaio PCs and Cyber-shot cameras helped push Sony Corp. into the black its fourth quarter ended March 31. The Japanese media and technology giant today posted net income of $290 million on sales of $19.5 billion. That compares with a $676 million loss on $2.1 billion in revenue a year earlier.

Sony slashed its operating losses in the video game and electronics businesses in the quarter. Losses from electronics fell to $14.3 million in the quarter, from $704 million a year earlier, as Sony muscled its way back to the top of the market for LCD televisions. Its PlayStation games division also saw losses dwindle to $109.4 million from more than $1 billion a year ago. Sony expects lower component costs for its next-generation PlayStation 3 console along with ramped up software sales to further improve the division’s performance in the coming year.

Sony said it sold nearly 12.9 million PS3s since introducing the console in 2007 and expects to sell 10 million during its current fiscal year. Meanwhile, Microsoft Corp. today said it has sold 10 million Xbox 360 game consoles in the U.S. alone since introducing the device in 2006.

-- Alex Pham