Sony posts $350 million loss in Q2 earnings report, forecasts full-year loss
Sony's Q2 earnings have just come in and, as you might guess, they're not particularly glowing. A few days after announcing plans to buy out Ericsson's stake in Sony Ericsson, the manufacturer posted a quarterly loss of ¥27 billion ($346 million) today, compared with a net income of ¥31.1 billion during the same quarter last year. Last quarter, the firm posted a net loss of ¥15.5 billion, or about $200 million. Sony attributed much of this decline to a stronger yen, lower TV sales and recent flooding in Thailand, which has disrupted its supply chain. On this basis, the company lowered its full year forecast, predicting a net loss of ¥90 billion ($1.2 billion), compared with a net profit of ¥60 billion that it had previously expected. It appears, then, that Sony's TV division is primed to post an annual loss for the 8th straight year, which would certainly explain those plans for a forthcoming shakeup. Find the full report at the source link, below.
