Year-over-year profits at Tokyo-based consumer electronics giant Sony fell 47 percent to $326 million during the first quarter, and company officials predict a further decrease in profits later in the year. Several factors contributed to the massive drop in Sony profits: lower-than-expected earnings from Sony Ericsson; falling electronics prices; an increase in the value of the yen against the American dollar; and the lack of a blockbuster hit in the company’s movie business.
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Sony Q1 Profit Plunges Nearly 50 Percent
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Year-over-year profits at Tokyo-based consumer electronics giant Sony fell 47 percent to $326 million during the first quarter, and company officials predict a further decrease in profits later in the year. Several factors contributed to the massive drop in Sony profits: lower-than-expected earnings from Sony Ericsson; falling electronics prices; an increase in the value of the yen against the American dollar; and the lack of a blockbuster hit in the company’s movie business.
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Sony Q1 Profit Plunges Nearly 50 Percent
Tags: activate-alert, apple, business, communications, critical-issues, enterprise, first, future, iphone, linux, network, privacy, search, search-archives, security, software, street, trends, wall street
This entry was posted
on Tuesday, July 29th, 2008 at 8:37 pm and is filed under Uncategorized.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
