Sony hikes profit forecast on gaming strength

TOKYO, July 31 : Sony on Friday hiked its full-year operating profit forecast by 8 per cent to 1.72 trillion yen ($10.72 billion), citing the strength of its gaming business. The Japanese conglomerate has received plaudits for its pivot to entertainment, but the market is concerned about the impact of AI and a memory chip price boom on its business. The PlayStation maker pointed to the impact of U.S. tariff refunds, a boost from exchange rates and cost control for the rosier outlook for its gaming unit. In the April-June quarter, group operating profit rose 40 per cent to 476.5 billion yen, beating analyst estimates, due to the strength of the gaming and image sensors businesses. Sony has said it has secured memory chip supply for this financial year but expects continued high prices next