October 27, 2005 - Sony today reported a plunge in third quarter profits from last year, down 46 percent to a net profit of 28.5 billion yen ($246 million). Sales remained unchanged, and Sony still expects a loss of 10 billion yen this fiscal year. It seems that Sony’s restructuring plan may take awhile to pay off.
Few areas in Sony have done well, and digital camera sales are no exception.
Analysts have mixed opinions on whether Sony’s few profitable units—namely its game unit, which experienced a 79% increase in sales—are a good start, but all agree that performance in the fourth quarter, traditionally a strong buying season and a crucial time for electronics manufacturers, is essential.