Game unit losses hit Sony profits
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Japanese electronics giant Sony reports a drop in profits as high costs at its game unit offset strong TV sales.
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Japanese electronics conglomerate Sony  Corp. posted a 13 percent drop in quarterly profit on Thursday  due to sliding prices of TVs, DVD recorders and video cameras,  compounded by its failure to overtake Apple Computer's iPod in  the portable audio market.
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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 video game maker largely met Wall Streetâs forecasts, despite posting a quarterly loss because of reorganization charges and deferred revenue.
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Sony said Monday that PlayStation 3 game machine sales totaled 1.2 million in North America during the key holiday season, boosting the strength of the company's Blu-ray video format because the console also works as a Blu-ray player.
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Any hope from Sony that its fortunes were turning around with the PlayStation 3 were dashed Tuesday as data showed it was falling further behind the Nintendo Wii in sales on its home turf.
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The latest results from games giant Electronic Arts beat market expectations, despite its profits falling 38%.
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Japanese games console maker Nintendo sees its profits fall,  despite  strong sales of its DS portable games machine.
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Sony Corp. said Monday that PlayStation 3 game machine sales totaled 1.2 million in North America during the key holiday season, boosting the strength of the company's Blu-ray video format because the PlayStation 3 also works as a Blu-ray player.
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InfoWorld - Sony&#39;s core electronics business more than doubled profits in the last quarter of 2006, but failed to offset price cuts to its&#160;PlayStation 3 game console, leading to an overall profit decline of just over 5 percent, the company said Tuesday.
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Although Sony is blaming its faltering profits partly on PlayStation 3 price cuts in Japan, a senior executive said Wednesday that further slashing prices may be in store for the just-launched video game machine.
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Sony Corp.&#39;s (6758.T) $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. (9766.T) said.
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Sony Corp. (6758.T) on Friday cut  the price of its new game machine PlayStation 3 by 20 percent  in Japan, in a surprise move that will attract more customers  but likely widen losses in its game division.
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A recovery in electronics sales offset losses in video games and helped boost Sony's profit for the July-to-September quarter more than 40-fold over the same period a year ago.
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Sony Corp. said on Friday its television  business returned to the black in the key October-December  quarter but profits were below its expectations as intense  price competition and heavy costs took a toll.
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Sales of Sony's PlayStation 3 game machine sales totaled 1.2 million in North America during the key holiday season, the electronics and entertainment company said Monday. The performance gave a lift to its Blu-ray video format because the console also works as a Blu-ray player.
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The company said quarterly net profit jumped to 73.7 billion yen, or $646.7 million, as sales of digital cameras, televisions and other electronics more than offset losses at its video-games unit.