Sony warns over falling sales, clings to profit

TOKYO: Sony on Friday cut its sales citing the impact of a surging yen and slower smartphone sales, as net But it managed to stay in the black as strong sales of its Play Station 4 offset negative impacts from a sharp rise in the yen and deadly earthquakes in Japan earlier this year which temporarily shuttered its regional factories.

2017 will be down 5.1 percent from its previous forecast to 7.4 trillion yen ($ 71 billion), Sony said, but it kept its projection of an 80 billion yen net profit unchanged.

quarter was down about 74 percent from a year ago, partly owing to a one-time gain a year earlier. The expectations of a loss.

Sony previously warned that a pair of deadly quakes in Japan in

The quakes, which caused major damage in southern Kyushu and claimed dozens of lives, forced ma to temporarily shutter factories, hitting production and sales.

Costs also included repairing damaged buildings.