Sony Projecting 2002 Profits Up By 20%, According To Reuters

say it is projecting its group operating profits to increase by 20% next fiscal year (ending March 2002), to about $2.51 billion, due to better game sales and a weaker yen. This news follows on the heels of Sony's lowered profit forecast for this year, announced January. In that announcement, Sony reduced its profit estimate for this year by half, citing sluggish performance in its game division. The Nihon Keizai said Sony's game division is projected to post a $200 million operating profit 2001/02, after an estimated $400 million operating loss expected in 2000/01.