Sony posts loss but says profit in sight

Sony Corp (6758.T) posted a smaller-than-expected quarterly loss, helped by an improvement in its struggling flat TV business, and said it was aiming to beat its official forecast and at least break even for the full year.

Sony has fallen behind Apple Inc's (AAPL.O) iPod in portable music, Nintendo Co (7974.OS) in videogames, and is struggling to compete with Samsung Electronics Co Ltd (005930.KS) in LCD TVs.

But the company, which vies with Panasonic Corp (6752.T) for the position of the world's largest consumer electronics maker, said that losses on flat TVs had narrowed in the latest quarter, bringing the business close to the break even level.

Read Full Article from Reuters

- Posted: 2009-07-30 14:37:07

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