Sony posts $160 mn net loss, cuts earnings forecast by 40%

Japanese electronics giant Sony said Thursday it booked a net loss of $160 million in the six months to September and cut its full-year earnings forecast by 40%.

Japanese electronics giant Sony said Thursday it booked a net loss of $160 million in the six months to September and cut its full-year earnings forecast by 40%.

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The maker of Bravia televisions and PlayStation games consoles said it lost 15.8 billion yen ($160 million) in the period, against a 40.1 billion yen loss a year earlier. For the year to March it cut its profit outlook to 30 billion yen from 50 billion yen, citing tough times in its electronics business.