SONY CORP.: Slackening demand worldwide and a...
<i> Times Staff and Wire Reports</i>
SONY CORP.: Slackening demand worldwide and a strong yen slashed profit at consumer electronics giant Sony in the six months ended Sept. 30, the company said.
Sony said net profit fell to $216 million in the first half of the fiscal year from $301 million in the same period last year.
Its pretax profit based on current operations plunged to $286 million from $517 million.
Analysts said the figures were much worse than expected.
For Sony group, which includes its subsidiaries, net profit fell to $346 million from $400 million.
Pretax profit fell to $739 million in the first half of 1991-’92 from $994 million the year before.
