Sony Expects the PS4 and Weak Yen to Double Income This Year

Sony, like Nintendo, are set to benefit from the weakening value of the yen and estimates that it's operating income for the year will be 40 billion yen ($4 billion) as opposed to previous estimates of 20 billion yen ($2 billion),

The PlayStation maker made the announcement in a new note to investors today though we should have a clearer indication of Sony's financials when they release their full earnings for the last financial year which ended on March 31st.

As the global economy has recovered from the downturn of the last several years the Japanese yen, seen as a safehaven currency in times of economic uncertainty, has fallen in value against other major currencies, principally the US dollar and the Euro.

As a result of this more favourable exchange rate Nintendo were yesterday able to post a profit despite a fall in operating revenues and sales.  

In addition, Sony have sold their headquarters in New York and Tokyo for a combined price of $2.3 billion, significantly reducing the company's debts. As part of an ongoing restructuring Sony Computer Entertainment Japan and Asia have also been merged. 

CEO Kaz Hirai, who previously led Sony Computer Entertainment, has vowed to make gaming one of the core aspects of the company going forward. The PlayStation 4 is due to launch later this year.