Sony posts profits in the most recent quarter
July 27th, 2006 Leave a comment Visited 18 times, 2 so far today
Sony posts profits in the most recent quarter
Consumer electronics giant Sony has posted a better-than-expected quarterly operating profit on Thursday.
The company gained from improved demand and sales of their flat TVs. They are also doing well with their venture with Ericsson in the mobile phone market.
Sony also went on to raise their outlook for the year by around 30%. The company also benefited from a weak yen in the market and they managed to overcome valuation losses at its life insurance unit and start-up costs for the upcoming Sony Playstation 3 gaming console.
They are due to launch this gaming console later this year and they would take on Microsoft Xbox 360 and Nintendo Wii gaming consoles. This launch is crucial for them as it might help them to dominate the HD DVD format for storage with their own Blu-Ray format.
Sony said that its operated profit totaled 27.05 billion yen. This is an amazing improvement when compared to 6.58 billion yen loss a year earlier in the same period.
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July 27th, 2006 at 8:05 pm
Sony actually made a profit?
Then best take a deep breath now Sony, you need to make whatever cash you have left (or recently borrowed) last a long long time while your underwater in the next few years. Good luck!
July 27th, 2006 at 8:09 pm
Sony better take a deep breath now and hope that whatever cash they have left (or recently borrowed) will see them through the losses a head with PS3 and Blow Ray.