YURI KAGEYAMA, AP Business Writer
TOKYO – Sony’s red ink worsened in the April-June quarter and it lowered its full-year earnings forecast as it battles a strong yen and declining sales of liquid crystal display TVs and video game machines.
The Japanese electronics and entertainment company Thursday reported a quarterly loss of 24.6 billion yen ($316 million) compared with a 15.5 billion yen loss a year earlier.
Sales edged up 1.4 percent to 1.52 trillion yen ($19.4 billion), helped by cameras, professional broadcasting products and mobile phones.
Tokyo-based Sony Corp. lowered its earnings forecast for the business year through March 2013 to a 20 billion yen ($256 million) profit, down from 30 billion yen projected in May, citing uncertainty in foreign exchange rates and global demand.