Sony's net profit down 72 per cent in July-September period

Sony Corp.Tokyo - Sony Corp saw its net profit plunge 71.8 per cent in the second quarter as demand for consumer electronics slowed and the yen rose in value against other major currencies, the company said Wednesday.

The Japanese electronics company reported a net profit of 20.8 billion yen (219.84 million dollars) in the July-September quarter, compared to 73.7 billion yen a year before.

Operating profit also tumbled 90.1 per cent to 11 billion from 111.6 billion yen during the second quarter a year earlier, and sales dipped 0.5 per cent to 2.07 trillion yen from 2.08 trillion yen, the company said.

In the electronics segment, sales of Bravia liquid crystal display televisions, Vaio-series computers and digital cameras rose, but overall sales fell 0.6 per cent to 1.65 trillion yen in the July-September period compared to a year before, due to the yen's advance against the US dollar.

Operating profit for the segment dropped 40.5 per cent during the quarter to 75.6 billion yen.

Sony narrowed its operating loss in the games segment, thanks to robust sales of PlayStation3 (PS3). Its net loss was 39.5 billion yen in the second quarter, compared to 96.7 billion yen a year before.

The company sold 21.1 million units of PS3 game software in three months, up 10.7 million units from a year earlier, while selling 2.43 million units of PS3 hardware, up 1.12 million units.

Sales jumped by 10.3 per cent to 269 billion yen during the second quarter.

For the first half of the business year, which starts in April, Sony saw its net profit tumble 60.2 per cent year-on-year to 55.79 billion yen.

Operating profit also dropped 63.7 per cent to 84.49 billion yen in the first six months, and sales slipped 0.2 per cent to 4.05 trillion yen.

Sony last week announced a downward revision of its full year earnings forecast with an expected net profit of 150 billion yen, operating profits of 200 billion yen and sales of 9.2 trillion yen. (dpa)

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