Sony Posts $390.5 Million Loss
Sony Thursday posted a quarterly loss of $390.5 million, due largely to a 27.3 percent drop in sales for its CE business. The company's gaming business also posted a nearly 40 percent drop in sales.
Sony attributed the loss to "the continued slowdown of the global economy and the appreciation of the yen," which offset cost-cutting efforts by the company. Sony had posted a profit of just under $400 million the same period last year.