Sony reduces losses in last quarter

Sony has reduced its losses to US$115 million for the latest quarter from US$1.7 billion in the same period the year before.

Quarterly sales increased by nearly 7 percent to US$21 billion in spite of a fall in the sales of gadgets such as televisions and Blu-ray video recorders, with the weaker yen boosting the company.

The Japanese currency has weakened as the central bank is expected to ease monetary policy, thus increasing the value of overseas sales.

The company has been losing money for the last four years due to the market dominance of Apple and Samsung, though president Kazuo Hirai is promising a comeback.

Posted in: Gadgets

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