Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Apparent beheading of Steven Sotloff sees more calls for #IsisMediaBlackout

Read more

AFRICA NEWS

Lesotho Coup: Exiled Prime Minister vows to return home after fleeing

Read more

DEBATE

Child Migrants In America: What to do about the wave of unaccompanied minors? (Part Two)

Read more

DEBATE

Child Migrants In America: What to do about the wave of unaccompanied minors?

Read more

THE INTERVIEW

Abbas Araghchi, Iranian deputy foreign minister

Read more

THE OBSERVERS

More of this year's best Observers stories

Read more

FOCUS

When water becomes a weapon of war

Read more

ENCORE!

Eve Ensler: 'In The Body Of The World'

Read more

THE INTERVIEW

Ed Husain, Author of 'The Islamist'

Read more

  • IS video purports to show beheading of second US journalist

    Read more

  • Obama orders 350 more US troops to Baghdad

    Read more

  • France’s former first lady lifts lid on 'cold' Hollande

    Read more

  • French mum reunited with daughter 'kidnapped by jihadist father'

    Read more

  • Video: Bodies ‘left behind’ as Ukraine forces flee rebel assault

    Read more

  • Trust and 'bio-disaster units' needed to fight Ebola

    Read more

  • France vows crackdown on unemployment benefit ‘abusers’

    Read more

  • Could France sell the Mona Lisa to pay off its debts?

    Read more

  • Iraqi forces advance on IS as protesters storm parliament

    Read more

  • Germany blocks popular car pick-up service Uber

    Read more

  • Several UN peacekeepers killed in Mali explosion

    Read more

  • French clubs left behind as others spend big

    Read more

  • Arab media strike back at IS Islamists – with cartoons

    Read more

  • NATO plans new 'spearhead' force to counter Russia

    Read more

  • When water becomes a weapon of war

    Read more

  • US military targets Somalia's al Shabaab Islamist group

    Read more

  • Eve Ensler: 'In The Body Of The World'

    Read more

Business

Sony reports third quarter operating loss

Latest update : 2009-01-29

The iconic Japanese company Sony Corp. reported a 200-million-dollar operating loss for the fiscal third quarter to December because of weak sales of electronic goods and a stronger yen.

AFP - Japan's Sony Corp. reported Thursday a 200-million-dollar operating loss for the fiscal third quarter because of weak sales of electronic goods and a stronger yen.

The iconic Japanese company maintained its forecast for its biggest ever operating loss in the full financial year to March.

The company said it would delay the start of a liquid crystal display joint venture with fellow electronics giant Sharp Corp. by one year due to the economic crisis.

Sony posted an operating loss of 18.0 billion yen for the fiscal third quarter to December, a dramatic turnaround from year-earlier profit of 236.2 billion yen.

Net profit plunged 95 percent to 10.4 billion yen as revenue slumped 24.6 percent to 2.15 trillion yen, a company statement said.

As well as weak consumer demand and a rising yen, which is bad for export earnings, the group's financial arm was hit by the global stock market rout.

Sony chief executive Howard Stringer is slashing 16,000 jobs and axing plants as the company braces for a record operating loss of 260 billion yen in the full financial year to March.

The group logged an operating loss of 15.9 billion yen in its core electronics business in the third quarter as revenue fell 29.3 percent.

The games unit suffered a 97 percent plunge in operating profit but avoided falling into the red thanks to efforts to reduce the manufacturing cost of the PlayStation 3, which faces strong competition from Nintendo's Wii.

Date created : 2009-01-29

COMMENT(S)