Sony's profit falls on yen, lagging cellphones, Japan quake

July 29, 2016

Sony Corp.'s fiscal first-quarter profit dipped 74 percent to 21.2 billion yen ($205 million), as earnings got hammered by a strong yen and lagging smartphone sales, and a quake that struck southwestern Japan caused damage and production halts in its semiconductor business.

The Japanese electronics and entertainment giant reported Friday that April-June sales slipped nearly 11 percent year-on-year to 1.6 trillion yen ($15.7 billion).

Quarterly profit last year totaled 82.4 billion yen.

Tokyo-based Sony, the maker of Bravia TVs and Walkman portable players, said an area that did well was game software sales for the PlayStation 4 .

Results were hurt by the Kumamoto earthquake in April, which stopped the development and manufacturing of camera parts, resulted in repair costs, damages and other expenses, it said.

Explore further: Sony reports a jump in fiscal third quarter profit on PS4

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