Sony Profit Slumps on Weak Electronics and Games

Consumer electronics giant Sony Corp said on Thursday that it barely eked out a group net profit in the first quarter, hurt by cooling demand for its PlayStation 2 (PS2) game machines and slumping sales of Trinitron televisions. "Group net profit tumbled 98 percent from the year before as gains generated by its life insurance business could not offset weakness from the lack of a box-office blockbuster like last year's "Spider-Man" and falling sales of Vaio personal computers and stereo systems."

Story from Reuters