Sony posts smaller-than-expected loss

Posted By: Staff
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Tokyo, Oct 30: Led by the good sales of PlayStation 3 game consoles and Michael Jackson hits, the Japanese electronics and entertainment behemoth, Sony Corp has posted smaller-than-expected 26.3 billion yen loss (289 mn dollars) for the Jul-Sep quarter.

Reporting good numbers signalling the company's recovery from the global economic slump, Sony on Friday, Oct 30 also reduced its forecast of losses for the full fiscal year through Mar 2010 from projected 120 billion yen (1.3 bn dollars) to a 95 billion yen (1 bn dollars).

Even though the encouraging quaterly results were attributed to electronics and device business, the company also gave credit to liquid crystal display TVs and game consoles.

However, the sale of these electronic goods continue to be battered down by competitors' price wars.

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