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BEIJING, Nov 3, 2011 - (ACN Newswire) - Chemchinanet.com reports that Sony released its earnings in the first half of this fiscal year. In accordance with U.S. GAAP, Sony's loss in the first half is 42.4 billion yen, while at the same period of the last fiscal year it had a profit of 56.8 billion yen. Sony explained that loss is due to the decrease of LCD TV's price and the appreciation of yen.
According to the recent research of Chemchinanet.com (http://www.chemchinanet.com/product/), Sony's amount of sales in the first half decreased 10% to 306.99 million yen. The operating profit decreased 81% to 25.8 billion yen. In addition to LCD TV, the sales of the game consoles and digital cameras also declined. In addition, the sale of small and medium sized LCD business and related assets and the increasing cost of the restructuring all inhibited the growth of corporate profits.
Chemchinanet.com points out that Sony also expects its fiscal year of 2011 will have a loss of 90 billion yen. Previously Sony had expected that it would have a profit of 60 billion yen. Appreciation of the yen and the Thailand floods both had a negative impact on the company's performance. In the current case, the impact of Thailand floods on Sony's full-year operating profit will reach 25 billion yen.
Contact:
http://www.chemchinanet.com/
Email: my@chemchinanet.com
Topic: Press release summary
Source: Chemchinanet.com
Sectors: Daily Finance, IT Individual
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