Sony forecasts double losses for games department

Sony Corp. this week announced that it expects losses in its videogame sector to double for the year ended March 2008, forecasting operating loss from JPY 50 billion (303.5 million) to an estimated JPY 100 billion (EUR 609 million).

As reported by Reuters, while a spokesperson for the company conceded massive loss in its games division, the firm anticipates its general electronics sector will see an operating profit margin of five per cent by the end of the current fiscal year (a total of one per cent higher than forecast)

Sony previously revealed its financial results for the second quarter last week, revealing an overall revenue growth year-on-year of 12.3 per cent, with operating profit at JPY 90.5 billion (EUR 549.3 million).