TOKYO: Japanese electronics giant Sony said Thursday its second-quarter net loss shrank by nearly half on-year thanks to cost reductions, and said its full-year profit forecast remained steady.
In the July-September period, the electronics giant booked a net loss of 15.5 billion yen ($194 million) down from 27 billion yen a year earlier. The company said it remained on track to turn an annual net profit of 20 billion yen.
Sales edged up 1.9 percent to 1.604 trillion yen, boosted by the inclusion of a now wholly-owned mobile phone unit.
But its mainstay television business remained weak, with sales dropping 31.5 percent to 146.7 billion yen and an operating loss of 10.2 billion -- still an improvement from the 30.5 billion yen loss of a year earlier. (AFP)