Sony’s quarterly profit drops by nearly half

“Sony Corp. said Thursday its profit in the latest quarter dropped by nearly half from a year ago, as electronics sales stayed flat, its movies business stumbled and earnings suffered from a heavier tax burden and losses related to equity holdings. The electronics and entertainment company reported a net profit of 28.5 billion yen ($246 million) for the three months ended Sept. 30, down 46 percent from 53.2 billion yen the same period a year ago,” Yuri Kageyama reports for The Associated Press.

Kageyama reports, “Like other Japanese electronics makers, Sony has been struggling in the last several years amid falling prices in consumer electronics and the emergence of cheaper Asian rivals. Sony fell behind Apple Computer Inc.’s iPod in portable music players. It was also late in putting out flat-panel TVs, falling behind Japanese rivals Matsushita Electric Industrial Co. Ltd., which makes Panasonic brand products, and Sharp… Sony announced a revival plan last month under Chief Executive Howard Stringer, the first foreigner to head the Tokyo-based company.”

Full article here.

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Perhaps Sony ought to quit stalling and finally sign on the dotted lines for Apple’s iTunes Music Store Australia and Japan? It sounds like Sony could use all the revenue they can generate.

Related articles:
Sony-BMG deal imminent with Apple’s iTunes Music Store Australia – October 26, 2005
Apple passes 600 million iTunes Music Store songs sold milestone – October 25, 2005
Analyst: Sony BMG’s boycott of Apple’s iTunes Music Store Australia won’t last long – October 24, 2005
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Apple launches iTunes Music Store Australia – October 24, 2005
Report: If Apple launches iTunes Music Store Australia tomorrow, Sony BMG won’t be included – October 24, 2005
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Why aren’t Sony, BMG, Warner, Victor making their artists’ music available on Apple’s iTunes Japan? – October 06, 2005
Sony and Warner holding out on Apple iTunes Music Store Australia – September 08, 2005
Musicians stage mutiny against Sony, defiantly offer music via Apple’s iTunes Music Store – August 10, 2005
Record company causes Apple to hit ‘pause’ on Australian iTunes Music Store – May 05, 2005

21 Comments

  1. It’s too bad, until recently, I’d liked Sony. In the past few years, they haven’t produced anything really impressive though. A lot of their stuff is similar to other producers out there. This is one reason Apple is doing well – they aren’t just following the market.

  2. Both Sony and Dell right now are basically at their 52 week lows. Meanwhile Apple is within about a dollar of being at their all-time high. Apple definitely has the opposite end of the spectrum thing working for them right now. We’ll see now how the holiday sales season turns out. The big three items for this season are obviously the new iPods (nano and video), the PSP from Sony and the Xbox 360 from M$. Let’s see who comes out on top.

  3. Sony has always had an attitude of, “We are the greatest…we can do no wrong.”

    Over the years of attending broadcaster’s equipment shows, the smugness and attitude of Sony reps kept me out of thier booth.
    “You vil pay our high price unt like it, becauz ve are Sony unt ve are der Greatest!” …………I don’t think so.

    Reality check time! Buh,bye Sony. Won’t miss you.

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