Sony Corp.'s profit plunged to $326.9 million (34.98 billion yen) _ about half what the Japanese electronics and entertainment company recorded the previous year.
Faltering results at Sony's mobile phone joint venture Sony Ericsson, price competition in its core electronics sector and a strong yen that eroded sales were behind the results released Tuesday.
Also Tuesday, Sony lowered its full-year profit forecast to 240 billion yen ($2.24 billion) from its earlier forecast for 290 billion yen ($2.71 billion) profit, blaming expected poor results at Sony Ericsson and a pessimistic outlook for its electronics business.
Earnings for the quarter ended June 30 were impacted by the absence of a blockbuster film like "Spider-Man 3," which lifted the performance of Sony's movie division in the same period a year earlier.
In a bit of bright news, the Tokyo-based maker of the PlayStation 3 game console and Walkman player turned profitable in its struggling video game section in the latest quarter, in contrast to losses the previous year.
Sony also said quarterly sales were strong for its Bravia liquid crystal display TVs, the PlayStation 3 and the PlayStation Portable handheld game machine.
Sony recorded 66.46 billion yen in profit during the fiscal first quarter the previous year.
Quarterly sales were just about unchanged at 1.979 trillion yen ($18.5 billion), compared with 1.977 trillion yen a year ago.
That was largely because of an unfavorable currency exchange rate as the yen appreciated against the dollar by nearly 16 percent from the previous year, according to Sony. In the local currency, sales jumped 8 percent on year, it said.
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