Sony posts 37.1 bn yen quarterly loss
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Last Updated: Thursday, July 30, 2009, 18:20
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.

Bureau Report

First Published: Thursday, July 30, 2009, 18:20

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