Sony enjoys profits rise

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Thursday, 4th February 2010
In Japan Entertainment News,

Japanese manufacturer Sony has seen a rise in quarterly profits, with its takings now standing at $871 million (£548 million).

The electronics company announced its October to December profits this morning (February 4th) and said that the information was better than it had predicted.

It said that this rise in profits is down to an increase in sales of its PlayStation 3 gaming console.

Between July and September last year, the firm lost some 26.3 billion yen.

As well as the profits rise, Sony said that its full-year loss is now likely to be around 70 billion yen - a drop of 25 billion yen from the 95 billion previously forecast.

Sony has been hit hard by the impact of the economic downturn, as many of its products - such as televisions, cameras and gaming consoles - have become luxury items which in the wake of financial turbulence, people refrain from buying.

Written by Mark Smith.