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Sony swings to USD2bn loss
Sony has recorded a JPY159bn (USD2.09bn) loss in the quarter ended December as the strong yen and losses in its TV business negatively impact its earnings. The performance is a far cry from the JPY72.3bn (USD949.9m) profit recorded during the same period in 2010, with revenues dropping 17% year on year to JPY1.82 trillion (USD23.9bn). Sony is also forecasting a full-year loss of JPY220bn (USD2.89bn) for the 12 months ended March, more than double the JPY90bn (USD1.18bn) it previously forecast in November. The results illustrate the task facing incoming CEO Kazuo Hirai when he takes the reins in April.
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