Sony Q3 profit up 5.8% on digital cameras

Sony Q3 profit up 5.8% on digital cameras
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First Published: Thu, Jan 31 2008. 12 27 PM IST
Updated: Thu, Jan 31 2008. 12 27 PM IST
Tokyo: Japan’s Sony Corp posted a 5.8% rise in quarterly operating profit thanks to strong digital camera sales, and it cut its annual outlook.
Operating profit at Sony, vying with Microsoft Corp and Nintendo Co Ltd in games and with Samsung Electronics Co Ltd in flat TVs, came to 189.36 billion yen ($1.78 billion) in October-December, up from 178.91 billion yen a year earlier.
Sony enjoyed robust holiday demand for its Cyber-shot digital cameras, Handycam camcorders and Vaio PCs, while cutting production costs of its loss-making PlayStation 3 game console and broadening its game software lineup.
For the year to March, Sony cut its operating profit forecast to 410 billion yen from 450 billion yen.
Shares in Sony have fallen 10% since October through Wednesday, outperforming the Tokyo stock market’s electrical machinery index IELEC, which lost 21%.
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First Published: Thu, Jan 31 2008. 12 27 PM IST