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Sony revises profits forecast downwards

October 20th, 2006 · No Comments

Sony has set aside 51 billion yen in order to cover its lithium-ion battery recall programme. Coupled with the delayed roll-out of the PS3, the Corporation has had to downgrade its business forecast by 62 percent.
While its sales forecast remains unchanged at 8.23 trillion yen, operating profit is now expect to be 50 billion yen. Net profit has been revised down to 80 billion yen. In a statement, the Japanese giant says: “Although Sony’s consolidated results during the current fiscal year will be negatively impacted principally by the provision relating to the aforementioned battery pack recall and global replacement program, as well as the revision to the PS3 launch schedule, we have continued to produce hit products in our TV and digital imaging product categories, including digital cameras, which are both driving factors behind future business growth, and operating results for our overall Electronics business continue to recover favorably.”
Sony confirms that it expects to record a loss for its games business during the initial launch phase of the PS3.

Tags: LCD TV · Trade

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