Sony Warns Over Falling Smartphone Sales, Strong Yen

Mohammad Ali (@ChaudhryMAli88) Published July 29, 2016 | 12:43 PM

Sony warns over falling smartphone sales, strong yen

TOKYO, (UrduPoint / Pakistan Point News - 29th july,2016) - Sony on Friday cut its sales forecast for the current fiscal year, citing the impact of a surging Yen and slower smartphone sales, as net profits also took a hit. Revenue in the year to March 2017 will be down 5.

1 percent from its previous forecast to 7.4 trillion yen ($71 billion), the firm said, adding that net profits in its latest quarter dived 74 percent due to a one-time gain a year earlier and the impact of deadly quakes in Japan that temporarily shuttered regional factories.

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