Profit slips at Sony on losses for PlayStation 3

January 30th, 2007

“Sony, the Japanese electronics maker, said today that its profit had slipped in the third quarter as it took large losses on its new PlayStation 3 game console. But the company raised its annual profit forecast following strong sales of its core consumer products, like televisions and digital cameras, and movies like the latest James Bond film, “Casino Royale.” Sony reported a net profit 159.9 billion yen, or $1.3 billion, in the quarter ended Dec. 31. That was 5.3 percent below the same quarter the year before, but well above analysts estimates that profit would drop by as much as half…” (Read full article here)

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