Sony road to recovery?

Sony has posted a quarterly profit at the top of analyst estimates on demand for smartphone camera chips, good music business and PlayStation 4 consoles and games. Operating profit was 157.6 billion yen (€1.18billion) in the first quarter ended June. Sales rose 15 per cent to 1.86 trillion yen, topping predictions.

After a year that included an earthquake crippling camera-chip production and a $1 billion writedown in films, the latest quarter is a return to stability. The increasing number of PlayStation 4 owners is driving sales of software and online services, while smartphone makers adopt more camera chips per device and more people pay to stream music.

Shares fell 1.8 per cent ahead of the results, leaving them up 36 percent this year.

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