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Sony trims quarterly loss to $142 million

 
Published on Feb 07, 2013
3:32 PM
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A shopper looking at Sony Corp's Bravia television monitors at an electronic store in Tokyo on Wednesday. Sony Corp posted a third-quarter operating profit after a loss a year ago, supported by lower costs and proceeds from asset sales that are helping it offset weak demand for its TVs and other devices. -- PHOTO: REUTERS

TOKYO (AP) - Sony Corp. is still struggling but managed to reduce its red ink for the latest quarter as the Japanese electronics and entertainment company aims for a comeback from record yearly losses.

Sony on Thursday reported a 10.7 billion yen (S$142 million) loss for the October-December quarter compared with a 158 billion yen loss a year earlier.

The company had a record loss of 457 billion yen for the fiscal year through March 2011 as its TV business struggled and it suffered from factory and supplier damage in northeastern Japan from the 2011 earthquake and tsunami.

Quarterly sales inched up nearly 7 per cent to 1.95 trillion yen despite declining sales of gadgets such as flat-panel TVs and Blu-ray video recorders, but only because Sony got a perk from a weaker yen.

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