Sony sees interim profits fall despite strong Playstation
salesRichard Wilson
Consumer electronics giant Sony has seen half year profits slide by
almost 25 per cent, in the six months to September.
Sony, which exports over two-thirds of its products, said that its
reports were hit by the affects of the strong yen. For example the
high value of the Japanese currency against the dollar completely
wiped out the healthy increase in profits from Sony's Playstation
sales in the US and Europe. Sony's net profit was 24.5 per cent
lower at Yen 64.9bn ($607m).
Another Japanese electronics manufacture Toshiba saw first half
losses deepen to Yen 46bn ($430m) as it grappled with lower than
expected profits from the semiconductor business. The fall in DRAM
prices in the last few months was a major factor.
Toshiba's revenues were 3 per cent lower for the six months.