Sony said Tuesday it expects to book record annual profits as the once-ailing electronics giant pushes on with a turnaround largely driven by a booming smartphone parts business.

The PlayStation console maker is eying a net profit of 380 billion yen ($3.4 billion) for the fiscal year to March 2018, eclipsing the previous 369.4 billion yen record hit a decade ago, while operating profit is forecast to be a highest-ever 630 billion yen