Visit Twellow.com

Sony Quarterly Loss Narrows

As a result of lower restructuring costs and an increase in game sales, Sony's quarterly loss narrowed.

Sony is expecting a 40% profit increase as the year continues.

An Associated Press article says,

Sony has been fighting off growing competition in consumer electronics from cheaper Asian manufacturers, while falling behind other rivals in critical hits like the iPod from Apple Computer Inc. Sony has been struggling to make a turnaround, but the latest results show its recovery remains weak.

Sales declined during the quarter in mobile phones, portable music players and old-style TV sets, although they were up in flat-panel and rear-projection televisions. The launch of the PlayStation Portable, the handheld video-game machine, helped boost sales in Sony's game operations, Sony said.

Sony shares went up 2% before the company announced its earnings.

Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.

Digg This! StumbleUpon This!
AddThis Social Bookmark Widget

News Tags: WebProNews, Sony, News, eBusiness
About the author:
Chris Crum is a staff writer for WebProNews and iEntry Network.

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
3 + 2 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.
Subscribe to WebProNews


Send me relevant info