Sony downgrades profit forecast as demand slows

Japanese electronics giant Sony has cut its full-year profit forecast due to slowing demand and the rising strength of the yen against the euro.

2nd August, 2012
Sony cut its annual TV sales target to 15.5 million units from 17.5 million units.

Japanese electronics giant Sony has cut its full-year profit forecast due to slowing demand and the rising strength of the yen against the euro.

Sony has posted four consecutive annual losses and said net income will probably be 20 billion yen (€208 million) in the year ending March 31st.

Sony shares are near their lowest levels in more than three decades after Japan’s currency gained, the global economy slowed and consumers flocked to Apple and Samsung...

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