Sony forecast a yearly loss of 230 billion yen ($2.1 billion) in September 2014, but a strong showing in the last three months of 2014 has allowed the manufacturer to cut the net loss forecast for the year to 170 billion yen ($1.4 billion). The company recorded a net profit of 89 billion yen ($756 million) in the last quarter, an increase of 238 percent from the same time a year ago.

Sony's operating profit for the quarter is predicted to be 178.3 billion yen ($1.51 billion), double what the manufacturer managed a year ago. Overall revenue is set to rise 6 percent year-on-year with sales totaling 2.56 trillion yen ($21.7 billion). Sony's mobile unit witnessed sales of 12 million during the quarter, an increase of 27 percent from a year earlier, and an operating profit of $80 million.

While the mobile division is seeing a year-on-year increase in sales numbers, Sony has announced that it would be undertaking a restructuring effort that would see a total of 2,100 employees being laid off. Hiroki Totoki, who leads Sony's mobile division, has mentioned that the manufacturer would be streamlining its smartphone lineup in 2015.

Sony has predicted a year-on-year increase of 17 percent in revenue to 531.5 billion yen ($4.4 billion) for the gaming division, mainly from the sales of the PlayStation 4 during the holiday season. Revenue from the image sensor business is expected to be 292.9 billion yen ($2.42 billion), an increase of 38.6 percent.

Finally, the organization has mentioned that it is setting aside $15 million in "remedial costs" for the Sony Pictures hack late last year.

Source: Sony