Sony warns of net profit slump after exceptional gains
TOKYO April 27, 2005: Japanese consumer electronics
giant Sony Corp. said it expects current year to March 2006 net profit to
more than halve to 80 billion yen (750 million dollars) as competition
remains fierce, especially in the key electronics segment.
The company said its year to March 2005 net profit rose 85.1 percent to
163.84 billion yen, boosted by a write-back of past provisions and the
robust performance of its SonyEricsson mobile phone venture which offset
weaker sales.
Pre-tax profit rose 9.1 percent to 157.21 billion yen but sales fell 4.5
percent to 7.16 trillion yen as the electronics segment was flat and revenue
from the games and music businesses fell.
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