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Sony profits fall 95 percent

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CNN
Thursday, Jan 29, 2009

Sony blamed the global economic slowdown, increased competition and an appreciating yen for a 95 percent drop in third-quarter profits, as the company announced its results Thursday.

Profits for the quarter, which ended December 31, fell from nearly 200 billion yen ($2.2 billion) in 2007 to about 10 billion yen ($110 million) in 2008.

Across the company, sales were down 25 percent, but electronics and games sales were especially hard hit.

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Sales of games, including the company’s popular PlayStation series, fell 32 percent over the year. Sales of electronics decreased by nearly 30 percent.

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This article was posted: Thursday, January 29, 2009 at 4:40 am





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