Source AP ©

Sony's profit doubles on sales of flat TVs and video cameras

Sony said Thursday its April-June net profit more than doubled to 66.46 billion yen (US$551.5 million; EUR 401.3 million) from the previous year on solid sales of flat-panel TVs, digital cameras and video camcorders.

The Japanese electronics and entertainment company's quarterly sales jumped 13.3 percent to 1.977 trillion yen (US$16.41 billion; EUR 11.94 billion) from 1.744 trillion yen the previous year. Net profit a year ago was 32.29 billion yen.

Sony Corp., which makes the PlayStation 3 video game console and the Walkman portable audio player, said its game operations were still in the red because of a strategic decision to price the PlayStation 3 below production costs.

The video game console has been struggling against the Wii from rival Nintendo Co., which reported Wednesday that quarterly earnings soared fivefold.

Tokyo-based Sony, which also has sprawling entertainment businesses, also got a perk in its movies division from the successful worldwide theater reception for "Spider-Man 3."

A weak yen, which tends to lift the value of overseas earnings for Japanese exporters, also helped, Sony said in a statement.

Comments
G7 wants to hold Russia responsible for everything
G7 wants to hold Russia responsible for everything
Russia to introduce criminal responsibility for those implementing anti-Russian sanctions
Unexploded Western missiles in Russia's hands: Russian air defenses to get even better
Defending the Social Media with the four-letter word
Unexploded Western missiles in Russia's hands: Russian air defenses to get even better
Defending the Social Media with the four-letter word
Germany begs USA for release
Poland defends its airspace with the help of Soviet systems made during the 1940s
G7 wants to hold Russia responsible for everything
Defending the Social Media with the four-letter word
G7 wants to hold Russia responsible for everything
G7 wants to hold Russia responsible for everything
G7 wants to hold Russia responsible for everything
G7 wants to hold Russia responsible for everything
Unexploded Western missiles in Russia's hands: Russian air defenses to get even better
Unexploded Western missiles in Russia's hands: Russian air defenses to get even better
Russia to deliver S-300 air defence systems to Syria for free
China's Alaska deal makes Russia shudder
Russia may interrupt regular flights with USA
Russia may interrupt regular flights with USA