Sony posts 95 per cent loss as Nintendo takes stock
Thursday 29th January 2009, 10:21AM GMT.
Sony has posted a 95 per cent fall in third quarter profits as games rival Nintendo cut its end-of-year forecast by 100 billion yen (£776 million).
A statement released by electronics giant Sony said it recorded an operating loss of 18 billion yen (£140 million) for the three months to December, compared to a 236.2 billion yen (£1.8 billion) profit 12 months previously.
Sony, like Samsung and Toshiba, has been struck by diminishing demand for electronics goods and the strong yen.
It revealed last week that full-year results would later reveal its first annual loss in 14 years.
Nintendo meanwhile posted a 21 per cent rise in operating profit to 249.2 billion yen (£1.9 billion) between October and December based on robust Christmas sales of Wii and DS systems.
But the Kyoto-based firm still revised its end-of-year forecast 16 per cent to 530 billion yen (£4.1 billion), the Reuters news agency said.
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