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Sony marks profit in fiscal fourth quarter, reversing from deep losses the previous year

Thursday, 15 May 2008

TOKYO (AP) -- Sony says it made 29 billion yen (US$277 million) profit in the January-March quarter.

The reversal from a loss of 67.6 billion yen during the same period the previous year came as it trimmed losses in its struggling PlayStation 3 video game business.

Sony said Wednesday that it expects profits in coming months to dwindle because of a strengthening yen.

Sales were solid in liquid-crystal display TVs, digital cameras and Vaio computers, the Tokyo-based manufacturer said. But sales of mobile phones, old-style picture tube TVs and PlayStation 2 machines declined during the quarter ended March 31.

Quarterly sales dropped 6.5 percent to 1.95 trillion yen (US$18.6 billion), Sony said.

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