Sony Profits Slump After Batteries Recall

30 October 2006

TOKYO: Sony Corporation announced a 94% plunge in profits for the quarter ended September 30, citing the cost of its global recall of potentially faulty PC batteries. It also blamed soaring development costs for its next-generation games console, PlayStation 3.

Profits dived to ¥1.7 billion ($14.45m; €113.59m; £762.0m) from ¥28.5bn in the year-ago period.

Sony's fortunes contrast poorly with those of its main game-playing rival Nintendo, where H1 group net profit rose by nearly 50% to ¥54.3bn. Half-yearly operating profit more than tripled to ¥67.1bn and group sales rose almost 70% to ¥298bn.

Data sourced from; additional content by WARC staff