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Friday, May 11, 2012

Sony makes a loss

Sony Corporation has announced its financial results for the financial year until 31st March 2012; a period that saw its business disrupted by natural disasters in Japan and Thailand.

Sales fell by 9.6% year-on-year to operating revenue ¥6,493.2 billion, with the company making a net loss of ¥456.7 billion (£3.55 billion). It’s forecasting a return to profit in the current year.

Figures from Sony Mobile, formerly Sony Ericsson, show a decrease in sales of 12.4%. The company said this was caused by component shortages following the Japanese earthquake and the floods in Thailand as well as its new focus on smartphones instead of feature phone sales. Overall, the mobile business recorded a net loss of €1,145 million (£918 million).

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