TOKYO Oct 31 Sony Corp cut its
full-year profit targets and posted a net loss for the September
quarter as its struggling TV operation fell back into the red,
highlighting the difficulties it faces restoring its electronic
hardware operation to profit.
Sony posted a net loss of 19.3 billion yen ($196.65 million)
for its second quarter. Its TV operation flipped from a 5.2
billion yen operating profit in the first quarter to a 9.3
billion yen loss.
Its operating profit forecast for the year to next March was
cut to 170 billion yen from 230 billion yen, below the average
of 221 billion yen expected by 22 analysts surveyed by Thomson
Sony also cut its full-year goal for TV sales, but Chief
Financial Officer Masaru Kato said the company was sticking to
its target of a full-year profit for its electronics division.
Japan's consumer electronics makers including Panasonic Corp
and Toshiba Corp have been hobbled by losses
from their TV operations, hit by stiff competition from Asian
($1 = 98.1450 Japanese yen)
(Reporting by Sophie Knight; Editing by Edmund Klamann and Ryan