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Sony trims quarterly loss to $115 million

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Sony trims quarterly loss to $115 million

/ 03:12 PM February 07, 2013

A shopper takes a look at Sharp’s Aquos flat-panel TVs at an electronics store in Tokyo in this January 31 photo. AP

TOKYO—Sony is still struggling but has reduced its red ink for the latest quarter to a 10.7 billion yen ($115 million) loss.

The Japanese electronics and entertainment company reported a 158 billion yen loss the same period the previous year.

Its result Thursday showed that quarterly sales inched up nearly 7 percent to 1.95 trillion yen ($21 billion) despite declining sales of gadgets such as flat-panel TVs and Blu-ray video recorders as Sony got a perk from a weaker yen.

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The yen has been weakening because of expectations the central bank will ease monetary policy. A weak yen generally helps Japanese exporters such as Sony by boosting overseas profits.

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TAGS: Business, electronics, Profit, Sony
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