Phil Elliott
09:14 (BST)
02/05/2008
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Sony's videogame unit to shrink losses
Sony Corporation's videogames unit is expected to see its losses shrink by around JPY 100 billion (USD 956 million / EUR 618 million) for the year ending March 31, 2008, following an operating loss - thanks to PlayStation 3 start-up costs incurred - the previous year of JPY 232 billion (USD / EUR 1.43 billion).
That is according to the Japanese Nikkei daily, as reported by Reuters, and is set against a backdrop of the Corporation as a whole expected to increase its operating profit by almost five times - but still miss profit targets.
The Nikkei predicts profit to hit JPY 380 billion (USD 3.63 billion / EUR 2.35 billion), although the January forecast was JPY 410 billion (USD 3.91 billion / EUR 2.53 billion) while a Reuters consensus predicted JPY 393.6 billion (USD 3.76 billion / EUR 2.43 billion).
Sales of digital cameras are expected to have been particularly strong for the corporation as a whole, and the full year earnings will be released on May 14.
A Sony spokesperson stated that the Nikkei predictions were based on the paper's own speculation, and that the company would not be commenting further.
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