Published in News

Sony in trouble again

by on31 October 2013

TV business plummets

Sony cut its full-year profit targets after slipping to a quarterly net loss. The problem was that its recovering TV operation fell back into the red.

Sony has been spending years trying to return to its former glories, also featured weak sales of video cameras and a steep slump in personal computers in the July-September quarter. With a quarterly net loss of $197 million, Sony's bad-news came in stark contrast to the upbeat news from its rival Panasonic.

Panasonic, which is shifting its business away from consumer electronics, is reporting better-than-expected results. Sony’s TV operation flipped from an operating profit in April-June, its first quarterly profit in three years, to an operating loss. Overall, Sony said that its operating profit would be flat in comparison to last year.

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