Sony Corp. has announced that its annual net profit has nearly tripled to hit a record high. Overall revenue has increased by 6.9% to an all-time high of 8.87 trillion yen, the company revealed.

The financial success is being credited to "brisk" sales of digital cameras and laptops that makes up for the continued losses from the PlayStation 3.

Operating profits increased five-fold, or 421.9% to 374.48 billion yen, while net profits came to 369.44 billion yen in the year to March, up from 126.33 billion yen the previous year.

The gaming division's losses were narrowed but remained in the red for this financial period, but a Sony financial bod said the division should return to profit "thanks to a reduction in the cost of PS3 hardware and an increase in the number of software titles".

Sony revealed it has sold 9.24 million PS3s in the year to March.