PlayStation 3 helps Sony to five-year high

By Jane Hoskyn on Apr 17, 2007 10:08 AM
Filed under Hardware

But Samsung takes a slide.

Strong sales of the PlayStation 3 and flat-screen televisions have hoisted Sony's profits to a five-year high.

The company has estimated a profit of 60 billion yen (£25m) for the year ending March 2007, and securities analysts have seen a rush of investors attracted by Sony's strengthening game division and the weak yen.

The PS3 is likely to give the electronics giant its biggest boost, with 10 million units expected to sell this year. Sony also expects LCD TV sales to grow by two-thirds to 10 million in 2007-2008.

The immediate future seems less bright for Samsung, however, which has reported a 15 per cent drop in first-quarter earnings.

But analysts expect that Samsung, the highest-valued technology company outside the US, to rebound in the second half of 2007 as consumers snap up Christmas electronics.