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Posts Tagged ‘Sony’

Sony leads Japan’s electronics makers back to black

In Uncategorized on July 29, 2010 at 11:19 am

TOKYO, July 29, 2010 (AFP) – Japanese electronics giant Sony on Thursday said it returned to the black in the fiscal first quarter thanks to strong sales in televisions, its PlayStation 3 console and computers.

The maker of Bravia televisions and Cyber-shot cameras reported a profit of 25.7 billion yen (293 million dollars) compared with a 37.1 billion yen loss a year ago.

Under chief executive and president Howard Stringer, the Japanese company has been streamlining operations and cutting costs to trim back the sprawling group, which was battered by the global downturn.

The electronics giant has been forced to undergo major restructuring — slashing thousands of jobs, selling facilities and turning to suppliers for parts — after seeing losses pile up as the financial crisis hit demand.

On Thursday Sony also upwardly revised its annual profit forecast by 20 percent to 60 billion yen in the year ending March 2011 despite worries over the yen’s strength versus other major currencies, which could erode profits.

The company warned that “further appreciation of the yen against the euro is expected for the remainder of the year” and revised its exchange forecast to 110 yen versus the euro, compared with 125 forecast in May.

It maintained its previous forecast of 90 yen to the dollar.

Japanese exporters remain anxious about the recent strength of the safe-haven yen versus the euro and the dollar amid ongoing uncertainty over the eurozone economy and doubts over the durability of a US recovery.

If sustained, a stronger yen could erode repatriated overseas profits and make goods more expensive overseas.

In the quarter ended June, Sony posted an operating profit of 67 billion yen compared to a loss in the same period a year ago.

The company is also banking on the mounting popularity of products that enable three-dimensional viewing.

In April it released a software update enabling the PS3 to support 3D games. Televisions showing 3D images went on sale in Japan last month.

Shares in Sony closed 0.03 percent lower in Tokyo Thursday before the earnings announcement.

Separately Toshiba Corp. said Thursday that it barely returned to the black for the first quarter on strong demand for flash memory chips used in laptops, smartphones and other gadgets.

Toshiba reported a net profit of 466 million yen, reversing a net loss of 57.8 billion yen a year earlier. Its sales for the three months rose 9.7 percent to 1.47 trillion yen.

Toshiba, whose business spans across consumer electronics, industrial components and nuclear power plants, maintained its forecast for a net profit of 70 billion yen on sales of 7.0 trillion yen for the current financial year.

Rival Sharp Corp. also said it returned to the black in the first quarter to June with a net profit of 10.7 billion yen (123 million dollars) on strong sales of liquid crystal display screens and mobile phone handsets.

It had posted a net loss of 25.2 billion yen a year earlier.

Japan’s top manufacturer of liquid crystal display (LCD) TVs, marketed under the AQUOS brand, said it expected a net profit of 50 billion yen for the current financial year to March 2011, unchanged from its previous forecast.

Source: SGGP

Sony likely bounced to black in first quarter: report

In Uncategorized on July 26, 2010 at 3:19 pm

TOKYO, July 26, 2010 (AFP) – Japan’s Sony is likely to have swung back to the black in the first quarter with operating profit reaching 30 billion yen (342 million dollars) due to aggressive cost-cutting, a report said Monday.

That would compare with a 25.7-billion-yen loss in the same April-June period last year and represent the first profit in two quarters, the Nikkei business daily reported ahead of official results on Thursday.

Under chief executive and president Howard Stringer, the Japanese company has been streamlining operations and cutting costs to trim back the sprawling group, which was battered by the global downturn.

Plant consolidation and lay-offs saved the company more than 300 billion yen the previous fiscal year, making the company more resilient to blows such as the yen’s recent rise against the euro, the Nikkei said.

Rebounding demand from China and other emerging companies helped lift sales of digital cameras, personal computers and video cameras, the report said.

Liquid crystal display televisions also sold well, and Sony’s game and mobile phone divisions returned to profitability thanks to cost savings.

Stringer has promised to reinvent Sony — the maker of the iconic Walkman — and the group is revving up for the year-end holidays with the September launch of the “Move” motion-sensing controller for PlayStation 3.

The company is also banking on the mounting popularity of products that enable three dimensional viewing.

In April it released a software update enabling the PS3 to support 3D games. Televisions showing 3D images went on sale in Japan last month.

Sony has also released a 3D camera and its film studio Sony Pictures is rolling out 3D movies.

Shares in Sony were up 1.19 percent at 2,543 yen at noon in Tokyo.

Source: SGGP

Chiefs of Samsung and Sony to meet

In Uncategorized on May 17, 2010 at 9:01 am

SEOUL, May 17, 2010 (AFP) – Samsung Electronics chairman Lee Kun-Hee is to meet his counterpart from Japan’s Sony Corp in Seoul next week, officials at the Korean company said Monday.

Lee will meet Howard Stringer on May 24 at Samsung’s reception house in central Seoul, a Samsung Electronics spokesman said without disclosing agenda details.

(AFP FILES) Employees walk past a sign outside Samsung Electronics in Suwon, south of Seoul, 24 February 2005.

The Asian electronics giants have worked together since the 1990s in the semiconductor and liquid crystal display (LCD) fields.

In 2004 they established a joint venture, S-LCD, in South Korea to jointly produce LCD panels mainly used for televisions.

The Maeil business newspaper said Stringer is expected to ask for an increase in the supply of LCD panels from Samsung.

It said both sides would also discuss ways to improve collaboration in other business areas including 3D technology.

Samsung is likely to face greater competition this year from Japanese TV makers as they vie for a share of the nascent 3D TV market.

Source: SGGP

Sony teams up for World Cup anti-AIDS campaign

In Uncategorized on March 24, 2010 at 3:39 pm

TOKYO, March 24, 2010 (AFP) – Thousands of football fans in Africa will see HIV/AIDS awareness messages on giant Sony screens during the World Cup under a collaboration announced Wednesday.

The messages will be broadcast between games shown on 200-inch (five metre) screens before fans in Cameroon and Ghana, according to Sony, the UN Development Programme and the Japan International Cooperation Agency.

“Today many African countries are facing social and economic challenges,” Sony chief executive Howard Stringer said. “The first World Cup to be held on African soil is also a great opportunity to showcase the power of Africa.”

The three partners will set up the giant screens in 12 cities in Cameroon and Ghana, which have both qualified for the World Cup in South Africa, with a total of 13,000 people expected at the viewing sites.

A picture taken on March 4, 2010 shows employees preparing a football player on a hardhat known as Makarapas in Johannesburg. AFP photo

Sony’s social responsibility chief Hidemi Tomita said most African children, “even if their national teams play in the games, won’t be able to experience the event due to low rates of household TV penetration”.

A lack of information and media access are among reasons for the high rates of HIV/AIDS in sub-Saharan Africa, where about 22 million people carry the virus out of the global total of 33.4 million, according to the UNDP.

Project organisers expect at least 1,800 people to take free HIV tests to be offered at the screening sites. They gave no further details on the contents of the HIV/AIDS messages.

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