Hobbled by Disappointing Sales and a Loss at the Game Unit, Sonyâs Profit Drops 5%
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The companyâs PlayStation 3 game console has had a shaky start, despite rebounding sales in its bread-and-better consumer electronics.
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Japanese shares fell for a fourth  straight session on Friday after consumer electronics firm Sony  Corp. slashed its profit estimate, dragging down rival makers  of digital products like Pioneer Corp.
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Sony can't catch a break, and now its highly anticipated PlayStation 3 is worrying investors. Shares of the company fell Tuesday after a financial analyst expressed concern over the console after it displayed some unstable behavior at the Tokyo Game Show.
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Plus: Electronic Arts lowers outlook, shares fall...Sony profit up, forecast cautious...Matsushita profit up 22 percent...Amazon's profit up, margins squeezed.
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Leisure group Rank has said it is thinking of selling its Deluxe film and video business as the firm announced a sharp drop in half-year profits.
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Sony Corp (6758.T), maker of PlayStation  game gear and Vaio PCs, posted a small rise in quarterly  operating profit and cut its outlook as weaker markets ate into  its investments and a firmer yen hurt overseas sales.
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The Nikkei lost 1 percent on Thursday as stocks such as Matsushita Electric Industrial Co. fell after disappointing earnings at U.S. firms, while Sony Corp. issued a profit warning after the close.
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The annual sales rate fell to 5.50 million from 5.75 million in July, the steepest percentage decline since March.
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But shares fall after the video game publisher cuts outlook for crucial Christmas shopping season. LOS ANGELES  - Electronic Arts Inc.
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Sales were lower than expected, and the quality of earnings is in question.
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Nintendo Co. Ltd.'s net profit fell 43  percent in the latest quarter and the videogame maker cut its  forecast for the full year by more than a fifth, citing a  strong yen and weak sales of its GameCube consoles.
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Sony Corp.'s  $100 price  cut for the PlayStation 3 is not enough to turn the fortunes of  the game console, which has suffered a slow start, an executive  of game software maker Konami Corp.  said.
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Sony's U.S. video-game unit is cutting jobs to become more competitive, the company said Thursday, as the PlayStation 3 machine struggles against rival offerings from Microsoft and Nintendo.
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Electronics giant Sony cuts its operating profit and sales targets for this business year, blaming falling product prices.
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Shares of Lowe's Cos  fell more than 5 percent on Tuesday after the home improvement retailer cut its profit forecast for this year amid the slumping U.S. housing market.
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The company's sales fall, pulling down its stock price.
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Sony Corp. (6758.T) shares fell as much  as 2.6 percent on Thursday, hit by another delay in the launch  of its PlayStation 3 game console, but outperformed sector  peers and the broader market by the end of the day as investors  weigh the likely impact of the delay.