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Sony Posts 7th Straight Loss as TV Sales Slump on Economy

November 1, 2012

Sony Corp., Japan's biggest consumer-electronics exporter, unexpectedly posted its seventh straight quarterly loss on falling demand as consumers flock to Apple Inc. and Samsung Electronics Co. devices.

The second-quarter net loss totaled 15.5 billion yen ($194 million), the Tokyo-based company said in a statement today. That compared with the 15.6 billion-yen average profit of three analyst estimates compiled by Bloomberg. The company kept its estimate to report its first annual profit in five years.

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