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Sony's Annual Forecast Shows a Silver Lining

| 30 Jan 2007 16:10

Although Sony's Games Division recorded a huge loss for the quarter ending December 31, Sony intends to raise its overall annual profit forecast.

Although startup costs, the decision to sell PS3s below production cost and weak PS3 sales all combined to force Sony's Games Division to report a quarterly loss of ¥54.2 billion, Sony recorded a net profit of ¥159.9 billion, which is about 5 percent under their net profit at this time last year.

Sony's operating profit was actually up from last year, due to strong sales of other electronic lines, and it enabled Sony to raise its annual profit forecast to ¥110 billion.

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