Sony has been on a long struggle but has somehow managed to reduce its red ink for the latest quarter as the Japanese electronics and entertainment company aims for a recovery from yearly losses.
Sony posted a loss of 10.7 billion yen for the October-December quarter compared with the previous year’s loss of 158 billion yen.
Sony has had a continuous record loss after the earthquake and tsunami in Japan in 2011 and its TV business had also struggled, which led to a loss of 457 billion yen.
The company has lagged behind from the past four years because of its powerful rivals like Apple and Samsung. What they have been doing is the same, but at a faster speed and cheaper prices.
The only hopes of backup are linked to the launch of PlayStation 4 that will be launched later this month.
Its TV division is in its ninth straight year red ink. The music and movie business of Sony are running quite good and they are lifting up the profits and sales.
Panasonic and Sharp too are expecting the massive losses for the fiscal year through March. 61.4 billion yen profit was posted by Panasonic for October-December quarter reversing from the losses of same quarter earlier, while Sharp reported a smaller flow of red ink at 36.7 billion yen quarterly loss.
Sony is known for innovation and creating new electronics sectors and for keeping its historical glamour; the company needs a far more pioneer product.