Sony posts 37.1 bn yen quarterly loss
Grappling with falling sales and surging yen, Japanese electronics major Sony Corporation has reported a net loss of 37.1 billion yen for the three months ended June 30, 2009.
Tokyo/New Delhi: Grappling with falling
sales and surging yen, Japanese electronics major Sony
Corporation has reported a net loss of 37.1 billion yen for
the three months ended June 30, 2009.
The company had a net income of 35 billion yen in the
corresponding period a year ago, Sony said in a statement.
Sales slumped 19.2 per cent to 1,599 billion yen in the
June quarter on account of global economic slowdown and the
appreciation of yen.
During the quarter, Sony sold 1.1 million play station
(PS3) units and 1.3 million play station portable (PSP) units.
In networked product and services segment, sales declined
by 37.4 per cent year-on-year to 246.8 billion yen. In this
unit Sony recorded an operating loss of 39.7 billion yen
against an operating income of 4.6 billion yen.
Sony`s sales in consumer product and devices segment
dropped by 27.3 per cent to 773.4 billion yen in the second
quarter of June this year.
"This decrease was due to the negative impact from the
appreciation of the yen, deterioration in the business
environment brought on by the slowing global economy and the
intensification of price competition," Sony said.
For the fiscal year ending March 31, 2010, Sony has
projected a net loss of 120 billion yen.