TOKYO: Sony said Friday it is on track to report its highest annual operating profit in 20 years owing to strong sales in its smartphone component business and PlayStation console division.

The once all-conquering company, which has been emerging from a painful restructuring, said it expects its operating profit to hit 500 billion yen ($4.5bn) in the year to March 2018.

That would be its best figures since a 525.7bn operating profit in 1998.

Net profit in the current year would more than triple to 255bn yen, Sony said.

Revenue is expected to grow 5.2 per cent to 8.0 trillion yen, backed by strong sales of image sensors, which are key components in smartphone cameras as well as other electronics.

Published in Dawn, April 29th, 2017