Sony's profits tumbling

Sony's quarterly net profit plunges 95 percent as electronics division slides into red
TOKYO (AP) -- Sony said Thursday its net profit plunged 95 percent in the October-December quarter, as the holiday shopping season provided no respite for the struggling electronics giant and tepid sales of TVs, digital cameras and mobile phones hit its bottom line.
The Japanese manufacturing icon said its usually dependable electronics division posted its first-ever operating loss for the fiscal third quarter. It also reiterated its forecast for a net loss of 150 billion yen ($1.67 billion) for the full fiscal year through March -- its first loss in 14 years.
Sony Corp. said net profit shriveled to 10.4 billion yen ($115.6 million) in the third quarter from 200.2 billion yen a year earlier. Revenue fell 25 percent to 2.15 trillion yen from 2.86 trillion yen.

Sony Global - Press Release

(January 29, 2009). Consolidated Financial Results for the Third Quarter ... Statement Regarding Media Story on Sony's Financial Results ...


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