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Sony cuts profit forecast as first quarter loss widens
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.
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BBC News, 2012. Sony cuts profit forecast as first quarter loss widens. [Online] (Updated 02 Aug 2012)Available at: http://www.manchesterwired.co.uk/news.php/1444053-Sony-cuts-profit-forecast-as-first-quarter-loss-widens [Accessed 25th May 2013]
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