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Sony cuts profit forecast as first quarter loss widens

Category: Business

Published: 2nd Aug 2012 07:47:18

Japanese electronics maker Sony has cut its annual profit forecast after its first quarter loss widened.

The firm reported a net loss of 24.6bn yen ($314m; £202m) for the April to June period, compared with a loss of 15.5bn yen a year earlier.

It also cut its forecast for net income for the year to 31 March 2013 to 20bn yen, down from a projection of 30bn yen in May.

Sony has been hurt by slowing demand for TVs and a strengthening yen.

Source:
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BBC News, 2012. Sony cuts profit forecast as first quarter loss widens [Online] (Updated 2nd Aug 2012)
Available at: http://www.ukwirednews.com/news/1444053/Sony-cuts-profit-forecast-as-first-quarter-loss-widens [Accessed 25th Jul 2014]

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