Sony says it sees 70% jump in devices revenues in 3 years, shares soar

The Sony logo and a Christmas tree are reflected on the company's 4K television set at the company's headquarters in Tokyo on Nov 18, 2014. Sony said it is aiming to garner up to US$11 billion (S$14.3 billion) in revenue from its movie business in th
The Sony logo and a Christmas tree are reflected on the company's 4K television set at the company's headquarters in Tokyo on Nov 18, 2014. Sony said it is aiming to garner up to US$11 billion (S$14.3 billion) in revenue from its movie business in three years time, a 36 per cent increase over levels forecast for the current financial year. -- PHOTO: REUTERS

TOKYO (Reuters) - Japan's loss-making Sony Corp said it expects revenue for its electronic devices division to rise up to 69 per cent over the next three years, to as much as 1.5 trillion yen ($12.7 billion), as it works through an extensive restructuring plan.

The forecast was released on Tuesday at the start of a Sony investors' conference on prospects for its electronics division.

In response, Sony shares in Tokyo soared as much as 6 per cent to their highest level since April 2011.

Last month, Sony posted a smaller-than-expected second-quarter operating loss on robust sales of image sensors. The result was hailed by its finance chief as proof that restructuring is paying, but a poor showing from its own Xperia phones weighed heavily on the results.

Sony didn't give business targets for its smartphone division on Tuesday, but said it planned to issue guidance by the end of March 2015.

In a similar event last week for its entertainment units, the conglomerate said it was aiming to lift its movie and TV programming revenues by a third over the next three years.