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TMCNet:  Sony Posts 115-Million-Dollar net Loss Due to Slumping TV Sales [Saudi Press Agency (Saudi Arabia)]

[February 08, 2013]

Sony Posts 115-Million-Dollar net Loss Due to Slumping TV Sales [Saudi Press Agency (Saudi Arabia)]

(Saudi Press Agency (Saudi Arabia) Via Acquire Media NewsEdge) Tokyo, Rabi'I 26, 1434, February 07, 2013, SPA -- Sony Corp on Thursday reported a net loss of 10.7 billion yen (115.1 million dollars) in the October-to-December quarter due to slumping television sales amid fierce competition in consumer electronics markets.

Sony logged a net loss of 159 billion yen in the same period in 2011.

Sony booked an operating profit of 46.4 billion yen for the October-to-December period, compared with an operating loss of 91.7 billion yen a year earlier while its sales rose 6.9 per cent year-on-year to 1.95 trillion yen.

The Japanese consumer electronics maker maintained its annual net profit outlook for the current financial year, which ends March 31, at 20 billion yen.

Sony is expected to release the PlayStation 4 gaming console later this year, the Kyodo News agency reported Thursday, citing unnamed sources closed to the matter. The new version will have a differently shaped controller from PlayStation 3 and feature online play and integration with other devices, Kyodo said.

The company was to announce the launch on February 20 in New York, the report said.

Sony, which used to be known as the world's electronics innovator, has lagged behind its rivals such as Apple Inc and Samsung Electronics Co in producing popular gadgets, resulting in four-straight years of annual losses and a restructuring.

--SPA 11:48 LOCAL TIME 08:48 GMT All Rights Reversed for Saudi Press Agency Provided by an company (c) 2013 All rights reserved.

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