Sony posts biggest operating profit in 8 years
Japanese electronics maker Sony's Operating profits quadrupled year-on-year to $2.70 billion for the 2015-16 fiscal, their highest annual operating profit in 8 years. The company saw a 666.5% rise in pretax profit to $2.81 billion for the period. This was attributed to cost cuts in Sony's smartphone business and a spurt in demand of its PlayStation 4 video games.