Sony reports 98% drop in profits on lagging sales
Sony reported a 98 percent drop in profit for the first quarter of its fiscal year as sales declined in key areas, reports AP. Sony said Thursday it earned 1.1 billion yen (US$9 million) in the April-June quarter, down from 57.2 billion yen for the same period last year. Sales fell 6.9 percent to 1.6 trillion yen ($13.5 billion) from 1.7 trillion yen.
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