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Sony cuts annual profit by 10 per cent

31st Oct 16 11:47 am

Will Sony be able to make a comeback?

Sony has reported a 10 per cent cut to its annual profit due to one-off costs in the sale of its battery business to Murata Manufacturing.

The sale is expected to cost Sony 33bn yen in impairment charges.

The firm is now expected to see operating profits of 270bn yen ($2.6bn, £2.1bn) for the year beginning in March, this comes to a huge 30bn yen lower than their previous forecast.

Brisk sales of the PlayStation 4 gaming consoles and software titles had brought hope to analysts as this could boost profits. This will also be improved with the Christmas season coming up and the upgraded versions of the consoles coming out soon.

Sony is expected to reveal its first-half results on Tuesday.

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