Sony stumbles, H1 profit slide

Tokyo, Oct 28: Japan's Sony, one of Japan's strongest firms, said net profit slid 5.4 per cent to 86.1 billion yen ($ 633 million). Pre-t...

Tokyo, Oct 28: Japan’s Sony, one of Japan’s strongest firms, said net profit slid 5.4 per cent to 86.1 billion yen ($ 633 million). Pre-tax profit slipped 4.3 per cent to 193.4 billion yen, though sales were up by 9.8 per cent at 3,368.4 billion yen.

Sony’s electronics, music and pictures businesses all performed worse than expected, with only the popular play station game console bringing strong earnings. The future would be painful, Sony said, forecasting it would lose money at the parent level in the next six months to march.

The sudden surge of the yen against the dollar in October would hit earnings, and electronic sales would be hit across the rest of Asia, Russia, eastern Europe and Latin America, Sony said.

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"A lack of improvement in semi-conductor markets and higher semi-conductor-related depreciation expenses as well as higher research and development and advertising costs are also factors resulting in forecast of further declines in electronics profitability," the firm said.

Sony would alsosuffer from tough price competition in computer displays, cellular phones and broadcast equipment.

Day after PM Modi’s visit to the town, Manipur’s Churachandpur sees violent protest

India2 hr ago

Protests in Manipur's Churachandpur turned violent as two men were arrested for damaging decorations for PM Modi's visit. The crowd demanded their release and attempted to storm the police station. The men were eventually released after a bail hearing. The incident occurred after a clash between locals and police on Thursday, but the situation had calmed down before Saturday's visit.

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