Sony begins turnaround plan and doubles annual net profit forecast to $403 million

It’s reported today that Sony doubled its annual net profit forecast for the past fiscal year to $403 millions. This is mostly due to a weak yen, it has lost around a fifth against the dollar since November, but also sales of Sony assets and smart business decisions. Sony will announce their results next month according to France 24.

Since the announcement of the PS4 Sony started a major overhaul of the company including job cuts and selling off real estate in Manhattan and Tokyo. Sony is also looking to put their estimated PS4 launch budget of $100 millions to good use this holiday and keep up the PS Vita momentum. It was the second most sold console in Japan during the week of March 31st with 33,000 units sold.