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Sony trims quarterly loss to $115 million

TOKYO (AP) â?? Sony Corp. is bad but still managed to reduce red ink for the last quarter, the Japanese electronics and entertainment is a return ...

 

TOKYO (AP) â?? Sony Corp. is bad but still managed to reduce red ink for the last quarter, the Japanese electronics and entertainment is a return of a record annual losses.

Sony on Thursday reported a loss of 10.7 billion yen ($ 115 million) for the period October-December quarter compared to a loss of ¥ 158 billion a year earlier.

The company has a record loss of 457 billion yen for the year to March 2011 the TV business struggled and suffered damage to plant and supplier in northern Japan since the earthquake and tsunami in 2011.

quarterly revenue rose slightly

nearly 7 percent to 1.95 trillion yen ($ 21 billion), despite a decline in sales of gadgets such as flat screen televisions and video recorders, Blu-ray, but only because Sony an advantage of a weaker yen.

The yen weakened as a result of the expectations of the central bank’s monetary policy easing and helped Sony increase the value of sales abroad.

Sony has lost money over the last four years, since it fell behind its powerful rivals like Apple and Samsung Electronics Co. of profitability and innovation.

Kazuo Hirai, who took over as president nine months ago, promises to lead to a return to what he calls the “wow” products, such as owls, mobile devices, digital cameras and sophisticated interconnected gadgets designed to bravery Sony show.

The problem is that competitors do the same, and sometimes do more quickly and at a better price.

Sony should provide information on the PlayStation 4 video game machine later this month, but it is unclear whether video games can really save Sony.

division of Sony TV

the ninth consecutive year, the red ink.

The activity

movie performed better on the success of “Skyfall” and “Hotel Transylvania”, while the music industry has also done well with bestsellers Alicia Keys “Girl on Fire” One Direction “Take Me Home” , and Celine Dion “No Wait”, says Sony. Both divisions showed an increase in operating profit and sales.

Sony has its eking predict a return to 20 billion yen ($ 214 million) profit for the year to March. has also left unchanged its forecast of 6.6 billion yen ($ 70.6 billion) in annual sales increase of 1.6 percent over the previous year.

other Japanese electronics manufacturers have also suffered, but was helped by the weak yen.

Panasonic Corp. and Sharp Corp. are both expected huge losses for the fiscal year in March. Panasonic announced last week a profit ¥ 61.4 billion ($ 667 million) for the period October-December Friday, reversing losses in the same quarter a year earlier, while Sharp reported a small flow of red ink on a 36.7 billion yen ( $ 399 million) quarterly loss.

Sony has promised to reduce bureaucracy in the ranks of management and product development decisions. He sells his headquarters building in New York for $ 1.1 billion in a deal expected to be completed in March. He along with the Japanese medical equipment maker Olympus Corp. to develop in this lucrative field.

Sony was once a brand recognized for its innovation, creating new fields of electronics, such as Walkman, one of the first mobile devices to the moment when it became a hit in the 1980s to catch. Some analysts believe that overtaking in smartphones and flat-screen TV can be a little too late, and the company have a much more innovative if it hopes to regain its historical prestige. Also

Thursday, Fujitsu announced that 5,000 jobs, or about 3 percent of its global workforce, to cut by the end of next month, as it seeks its computer chip business and operations abroad shape. Of these redundancies will be 2,800 in Japan and 2,200 abroad, mainly in Europe. A more detailed breakdown was not immediately available.

company spokesman said Takashi Koto redundancies will be achieved through early retirement, layoffs and other methods.

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Yuri Kageyama

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