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Sony sinks to $199M quarterly loss on disaster
Sony sinks to $199M quarterly loss on disaster, lowers annual profit forecast
TOKYO (AP) -- Sony sank to a 15.5 billion yen ($199 million) quarterly loss, hurt by the earthquake and tsunami in northeastern Japan, a massive online security breach and plunging TV prices.
Sony Corp. had posted a 25.7 billion yen profit in the April-June period the previous year.
The Tokyo-based electronics and entertainment company Thursday lowered its profit forecast for the fiscal year ending March 2012 to 60 billion yen ($769 million) from 80 billion yen ($1 billion) it gave in May.
July 28, 2011