Sony reports losses of €150m

on 01/11/2012 08:26:00

Sony has reduced the flow of red ink for the fiscal second quarter on a sales recovery and restructuring efforts, and is sticking to its full-year forecast for a return to profit.

The Japanese electronics and entertainment company reported on Thursday a 15.5bn yen (€150m) loss for the July-September period, much better than the 27bn yen (€26bn) loss racked up the same period the previous year.

Quarterly sales improved 1.9% to 1.6tn yen (€15.4bn).

The maker of Viera TVs and the PlayStation 3 game machine remains in deep trouble as does much of the Japanese electronics industry - slammed by cheaper competition in flat-panel TVs, and by Apple of the US and South Korea's Samsung Electronics in mobile devices