We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Sony's outlook improves, although losses continue

Sony sales down, but not as bad as expected

Despite losing money on the back of lower sales during its fiscal second quarter, Sony said business was better than expected and has cut full-year loss forecasts as a result.

Sales during the quarter, the period from July to September, were down 20 percent on the same period last year at ¥1.7 trillion ($18 billion) and net losses were ¥26 billion, it said Friday. Last year during the same period it recorded a net profit of ¥21 billion.

Sales were down due to the global recession, which started during the October to December quarter last year. The drop into losses was blamed on restructuring charges, poor results at Sony Ericsson Mobile Communications and other affiliates and the strong Japanese yen.

See also: Sony Ericsson to pick sides in mobile OS war

As a result of the better-than-expected second quarter Sony has cut its estimate of the amount of money it expects to lose this year. Sony now expects full-year losses to hit ¥95 billion, down from its July forecast of ¥120 billion. It left its sales forecast of ¥7.3 trillion unchanged.

See also: Sony disc drive unit in DOJ investigation


IDG UK Sites

Galaxy S6 UK release date, price, specs: When is the Samsung Galaxy S6 coming out? Galaxy S6 launch6......

IDG UK Sites

5 things we hate about MWC: What it's like to be a journalist at a technology trade show

IDG UK Sites

Interview: Lauren Currie aims to help design students bridge skills gap

IDG UK Sites

12in Retina MacBook Air release date rumours: new MacBook Air to have fingerprint ID, could launch...