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Sony Corp losses pass a billion dollars in summer quarter

By | Published on Tuesday 4 November 2014

Sony Corp

As expected, Sony Corp last week confirmed another disappointing quarter, with the entertainment and consumer electronics group running up a net loss of $1.2 billion, or around 135 billion yen.

Which ain’t great, though Sony having previously warned that recent months had been particularly doomy and gloomy at the conglom, the figures were actually slightly better than some analysts expected.

The mega-losses in the summer quarter explain why Sony was forced to admit back in September that its year-end losses were set to be four times bigger than originally expected, topping $2 billion.

Most of the company’s current woes stem from its mobile phone business, which is nice, because in recent years it’s been mainly the Sony television set division that caused all the doom and gloom, and it’s good to have a bit of variety.

Compared to some of its electronics divisions, the US-headquartered Sony entertainment firms – including Sony Music and Sony/ATV – are doing pretty well, though PlayStation is perhaps the real Sony cash cow subsidising everything else.