Sony slows losses

Sony has cut its quarterly losses. Net losses for the October-December quarter fell to 10.8 billion yen ($115m), from 159 billion yen for the quarter in 2011, with sales up 6 per cent to 1.9 billion yen.

The latest quarterly figures brought total losses in the nine months to end-December to 50.9 billion yen, a 75 per cent fall on the previous nine months. Sony made record losses of 557 billion yen for the whole of 2011 financial year.

Sony’s film division made a profit, thanks to the success of movies such as Skyfall and Hotel Transylvania. The music division also made a profit. However, the TV division made a loss – and has done for several years.

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