Sony cuts profit forecast as demand stalls

Sony Corporation unexpectedly cut its full-year profit forecast amid plunging box-office receipts for its movies and stalling demand for its televisions and digital cameras.

31st October, 2013
Demand for TVs has stalled.

Sony Corporation, Japan’s biggest electronics exporter, unexpectedly cut its full-year profit forecast amid plunging box-office receipts for its movies and stalling demand for its televisions and digital cameras.

Net income will probably total 30 billion yen (€223 million) in the year ending in March 2014, the Tokyo-based company said in a statement today, cutting its August projection for 50 billion yen in profit. The company also posted a second-quarter loss.

Sony is struggling to catch Samsung...

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