Sony Corp. 2Q net profit plunges 86 pct as strong yen stings
TOKYO (AP) — Sony Corp.'s net profit plunged 86 percent in the last quarter from a year earlier, the company said Tuesday, as its profitability was hammered by a strong yen and lagging smartphone sales.
Tokyo-based Sony, the maker of Bravia TVs and Walkman portable players, left its forecast for sales at 7.4 trillion yen ($70.6 billion), unchanged from its earlier outlook and down from 8.1 trillion yen a year earlier.
The plan to sell the battery business run by Sony Energy Devices Corp. to Murata involves transferring all of Sony's battery-related manufacturing based in China and Singapore and sales and R&D assets and staff working assigned to its battery business in Japan.