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| Sony sees sharp fall in profits | Sony sees sharp fall in profits |
| (20 minutes later) | |
| Quarterly profits at Japanese electronics giant Sony have almost halved, hurt by a loss at its mobile phone venture with Sweden's Ericsson. | Quarterly profits at Japanese electronics giant Sony have almost halved, hurt by a loss at its mobile phone venture with Sweden's Ericsson. |
| The PlayStation maker said that net profit totalled 35bn yen ($326m, £163m) in the April to June period, down from 66.5bn yen a year ago. | The PlayStation maker said that net profit totalled 35bn yen ($326m, £163m) in the April to June period, down from 66.5bn yen a year ago. |
| Sony was rattled by a strong yen and stiff price competition, although PlayStation sales were strong. | |
| The company also trimmed its annual profit forecast. | The company also trimmed its annual profit forecast. |
| "Games have recovered well - that's positive. But movies aren't good. Then Sony Ericsson is really a drag," said Hiroaki Osakabe, a fund manager at Chibagin Asset Management. | |
| Japan's electronics makers have seen mixed performances as they grapple with a US economic downturn, higher fuel and raw material prices and a stronger yen - although the Japanese currency has begun to weaken recently. | |
| Toshiba, which makes the memory chips used in digital cameras and mobile phones, said it made a net loss of 11.6bn yen in the quarter due to slump in semiconductor sales. | |
| It also blamed a stronger yen. | |
| However, Matsushita, behind the Panasonic brand, said its net profit soared almost 86% to 73bn in the first three months of the financial year, compared with the same period a year ago, helped by brisk sales of large flat-screen televisions. |