Sony raises annual forecast despite setbacks
In spite of what analysts are saying about Sony’s profits, the company has just raised its projected net profit for the current year to 110 billion Japanese yen (roughly US$ 903 million). Now why did they do that?
They did it because they recorded a net profit of 159.9 billion Japanese yen overall – down by five percent compared to last year’s records. Operating profits then went up over a 100% to 177.4 billion yen due to the sales performance of flatscreen Bravia TVs and Cybershot cameras.
Sony raised their annual forecast even if their game division recorded a quarterly loss of 54.2 billion Yen for the period which ended last December 31. They cited PS3 start-up costs and its price tag (which is below the cost of production) as the reason behind it. The laptop battery recall and the weaker Yen during the October-December quarter also didn’t help Sony in battling the losses.
For now, let’s wait and see if Sony would be able to meet its new projected net profit. We’ll be sure to update you as more info comes our way.
In spite of what analysts are saying about Sony’s profits, the company has just raised its projected net profit for the current year to 110 billion Japanese yen (roughly US$ 903 million). Now why did they do that?
They did it because they recorded a net profit of 159.9 billion Japanese yen overall – down by five percent compared to last year’s records. Operating profits then went up over a 100% to 177.4 billion yen due to the sales performance of flatscreen Bravia TVs and Cybershot cameras.
Sony raised their annual forecast even if their game division recorded a quarterly loss of 54.2 billion Yen for the period which ended last December 31. They cited PS3 start-up costs and its price tag (which is below the cost of production) as the reason behind it. The laptop battery recall and the weaker Yen during the October-December quarter also didn’t help Sony in battling the losses.
For now, let’s wait and see if Sony would be able to meet its new projected net profit. We’ll be sure to update you as more info comes our way.
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