Saturday, July 29, 2006

TV sales, 'Da Vinci Code' help Sony extend recovery

Sony Corp has said strong sales of flat-panel televisions in the June quarter and the hit movie "The Da Vinci Code" helped it reverse the losses of a year ago and continue its turnaround. The Japanese electronics giant, which is undergoing major restructuring, reported a net profit of 32.29 billion yen (278.3 million dollars) for the fiscal first quarter after a net loss of 7.26 billion yen a year earlier. Sony posted an operating profit of 27.05 billion yen against a loss of 6.58 billion as revenue rose 11.2 percent to 1.74 trillion yen. Sales at the core electronics goods unit rose 13.5 percent "thanks to the Bravia brand television sales which continued to grow dramatically in all areas of the world," said chief financial officer Nobuyuki Oneda. [More]


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