TOKYO: Sony on Friday announced a whopping $1 billion six-month loss, underlining the Japanese electronics giant’s struggle to drag itself out of the red, while it falls further behind rivals Panasonic and Sharp.
As the trio published their half-year earnings, Sony said the challenges of a fiercely competitive smartphone business had weighed on its bottom line.
The company is also currently in the midst of a broader restructuring as it tries to move past years of massive losses.
Sony’s net loss for the six months to September came in at 109.1bn yen, way up from a loss of 16.5bn yen in the same period last year.
Published in Dawn, November 1st, 2014
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