Sony expects $1.68bn loss

MCV Staff 22nd January 2009 Business News

Sony has revised its earnings forecast for the fiscal year ending March 31st.

The firm is now expecting a net income loss of 150 billion YEN ($1.68 billion), with an operating income loss of 260 billion YEN ($3 billion), which is more than the $1.1 billion loss predicted earlier in the month.

The firm’s PlayStation business is also set to reveal a loss of $338 million, with the weakening YEN and lower-than-expected games sales highlighted as the key factors.

Sony’s other business have fared no better, with losses at its electronics division set to grow to 340 billion YEN.

In March 2008, Sony posted a profit of 369 billion YEN.

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