Sony Corporation has reduced its quarterly losses to $115 million

Sony, the Entertainment and Electronics Company, has announced its figures for the last quarter. It has managed to reduce its losses to 10.7 billion yen or $115 million dollars and predicts a profitable year ahead. It has seen a rise in sales to the tune of 5.07 trillion yen. This Japanese company had suffered badly, with the destruction of its factory, in the earthquake and tsunami that had hit the island nation a year ago. As a consequence, it had faced massive losses to the tune of 457 billion yen in 2011.

If natural causes were the major cause of Sony’s woes, its rivals Samsung and Apple also contributed to its misfortunes. They moved ahead with innovative and hard selling products. The Chinese ban of Japanese goods as a result of territorial dispute has been another reason. These factors have lead to Sony’s downslide in the last four years. Now, this decline in its losses is good news for the company after a long while.

This turnaround has hardly been an effect of sales of its flat screen TVs and Blu- ray gadgets. The sales have been average but the declining yen has proved to be a saviour. With its value having earlier risen to 75 against the dollar, Japanese products had lost all appeal in the international market.

This boost has put Sony on the tracks of looking forward to a year of profits. Sony is planning to launch its next Play station by the year end. The new game console is much awaited. Sony is also taking measures behind the scenes to reorganise its structure in face of its losses. Besides deciding to sell its Manhattan Headquarters for 1.1 billion dollars, it has undertaken layoffs and invested in Olympus, the camera manufacturers. With its new found confidence, Sony can look for better days ahead.