The company has been plagued in the past year by a slump in demand for electronics goods amid slowing global economic growth, and by protracted delays to the release of its much-anticipated PlayStation 2 games console. shares fall Y120 on the Tokyo Stock Exchange to Y8750 by mid-afternoon, a slide of 1.35 percent.
The anticipated revenues for the third-quarter would leave Sony, the world's second largest consumer electronics maker, on track to achieve a full-year net profit of Y10 billion, a dramatic slump from the previous year's Y122 billion result.Įxpectations for the fall in profits saw Sony Corp.
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Meanwhile, the company has also moved to expand beyond hardware sales with the purchase of two software development companies in the United States on Monday.
The company's December quarter profit is expected to be between Y120 billion and Y140 billion, or as much as 27 per cent lower than the previous third-quarter profit of Y164 billion.īut analysts say the falling yen should bolster its earnings in the fourth-quarter, since Sony's exports will be cheaper for offshore customers. TOKYO, Japan - Consumer electronics giant Sony is counting the cost of production delays of its PlayStation 2 game console amid warnings of a fall in third-quarter profits.
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