Sony Reports Second Quarter Loss

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SonySony announced the financial results of its fiscal second quarter ended September 30, 2011. While the big news concern's Sony's television production, the company's games business didn't fare particularly well, either. Read on for more details...
For the fiscal second quarter ended September 30, 2011, Sony reported a net loss of ¥27.0 billion (around $350 million) compared to net income of ¥31.1 billion in the same quarter the previous year. While the Consumer Products and Services division performed poorly, Sony blamed much of the poor results on unfavorable exchange rates and lower sales of LCD televisions. Sony has been counting on unreasonable growth in LCD television sales to prop up the company, and now that TV sales are flagging, Sony's results look particularly bad. Sony has announced restructuring in its TV business, but let's get on to the game-related news...


The Consumer Products & Services division that includes game operations reported an operating loss of ¥34.6 billion (around $450 million) compared to operating income of ¥1.0 billion in the same quarter the previous year. Sony noted that the game business declined in part due to a reduction in the price of the PlayStation 3 hardware and a "slowdown in market growth" (which could be translated as 'the global economy is terrible and people aren't buying things.'

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This page contains a single entry by Editor published on November 2, 2011 10:10 PM.

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