Sony Corp on Thursday logged a net loss of 15.5
billion yen (193.4 million dollars) in the July-to-September quarter
because of the yen's strength and stiff competition in consumer
electronics.
Sony posted a net loss of 27 billion yen in the same period last
year.
Sony booked an operating profit of 30.3 billion yen for the
July-to-September period, compared with an operating loss of 1.6
billion yen a year earlier.
The improvement was attributed mainly to 13.2 billion yen from
insurance payouts related to damage and losses in the floods in
Thailand last year, and 8.2 billion yen from the sale of the
chemical-products business.
Sales also edged up 1.8 per cent year-on-year to 1.6 trillion yen
primarily due to a "significant increase in sales in the Mobile
Products & Communications segment," the company said.
This rise was mainly thanks to the consolidation of Sony Mobile
Communications AB, formerly known as Sony Ericsson Mobile
Communications AB, as a wholly-owned subsidiary from February 2012.
However, Sony has been struggling with slowing sales of such
products as digital cameras and liquid crystal display televisions.
The Japanese consumer electronics maker trimmed its sales outlook
for the current financial year, which ends March 31, to 6.6 trillion
yen, down 1.6 per cent from its prediction three months ago.
Sony, once known as the world's electronics innovator, has lagged
behind its rivals such as Apple Inc and Samsung Electronics Co in
producing popular gadgets, resulting in four-straight years of annual
losses and a restructuring.
