{"id":25590,"date":"2012-11-01T09:11:38","date_gmt":"2012-11-01T07:11:38","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=25590"},"modified":"2012-11-01T15:36:53","modified_gmt":"2012-11-01T13:36:53","slug":"sony-turns-a-small-profit","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/hardware\/25590\/sony-turns-a-small-profit\/","title":{"rendered":"Sony turns a small profit"},"content":{"rendered":"

Japan’s Sony Corp<\/a> booked a small operating profit in the second quarter, after a loss a year ago, helped by the sale of a chemicals business that offset weak demand for its TVs and other devices, and it kept its full-year profit guidance.<\/p>\n

July-September operating profit of 30.3 billion yen ($379 million) compared with a 1.64 billion yen loss a year ago, and was close to the average 33.8 billion yen profit estimated by five analysts surveyed by Thomson Reuters I\/B\/E\/S.<\/p>\n

The company recently completed the sale of its chemical business to state-backed Development Bank of Japan<\/a> for 58 billion yen. Other asset sales may further inflate operating profit this business year.<\/p>\n

Sony, which blazed a trail in the early 1980s with its Walkman portable music players, stuck to its forecast for a full-year operating profit of 130 billion yen ($1.63 billion). It had reduced that in August from 180 billion yen. Analysts predict a full-year profit of 107 billion yen. Last year, Sony reported an annual operating loss of 67 billion yen.<\/p>\n

Sony cut its forecast for full-year sales of its hand-held PSP and Vita game consoles to 10 million from a previous forecast of 12 million. It also expects to sell fewer TV sets – 14.5 million – and compact digital cameras – 16 million – than it previously forecast, but kept its prediction for PlayStation home console sales at 16 million.<\/p>\n

Panasonic Corp<\/a>, a rival Japanese TV maker, said on Wednesday it will lose almost $10 billion this business year as it cleans its house of risky assets – writing down billions of dollars of goodwill and assets in its mobile and energy units and preparing for more restructuring that is likely to see it shift away from money-losing TVs and other consumer electronics. Its shares fell by a fifth on Thursday, wiping around $3 billion off its market value.<\/p>\n

Shares in Sony, valued at less than $12 billion, have dropped around 19 percent since end-June and the cost of insuring against debt default for five years has jumped by almost 60 percent.<\/p>\n

Related articles<\/strong><\/p>\n

Sony pegs $642 million Olympus investment<\/strong><\/a><\/p>\n

Sony pegs hopes in PlayStation 3<\/strong><\/a><\/p>\n

Sony won\u2019t be drawn into tablet price war<\/strong><\/a><\/p>\n

Sony considers cutting up to 1,000 jobs<\/strong><\/a><\/p>\n

Sony slashes forecasts and sales expectations<\/strong><\/a><\/p>\n

Sony CEO: turnaround strategy will work<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Japan’s Sony Corp booked a small operating profit in the second quarter, after a loss a year ago, helped by the sale of a chemicals business that offset weak demand for its TVs and other devices, and it kept its full-year profit guidance.<\/p>\n","protected":false},"author":7,"featured_media":9630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[25,359,385],"class_list":["post-25590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hardware","tag-active","tag-profit","tag-sony"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=25590"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25590\/revisions"}],"predecessor-version":[{"id":25663,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25590\/revisions\/25663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/9630"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=25590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=25590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=25590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}