Sony sees red as sales drop 20%
FROM VARIETY: Corp. reports fourth straight quarter of losses
By Mark Schilling of Variety -- Video Business, 10/30/2009
OCT. 30 | FROM VARIETY: Sony has reported yet another quarter of losses -- its fourth straight -- though the pain is less than analysts predicted. From July to September, the electronics giant racked up a net loss of 26.3 billion yen ($289 million), compared with a 20.8 billion yen ($228 million) profit the same period the year before.Meanwhile, sales plunged 20% year-on to 1.66 trillion yen ($18.2 billion), while the strengthening of the yen delivered a 77 billion yen ($846 million) blow to operating profits.
One positive note was games sales, which rebounded after Sony bowed a lower-priced PlayStation 3 in September. The worldwide total for the period was 3.2 million units, compared with 2.4 million the same quarter last year.
Read the full story on Variety.com
