Sony has posted a 47 fall in in Q1 profits off the back of poor sales at its Sony Ericsson joint venture.
The Tokyo-based company said it earned 35 billion yen in its first quarter ending June 2008, down 47 per cent from 66 billion yen in 1Q07.Analysts attribute the fall to Sony Ericsson's poor sales and currency fluctuations.
Sony is also facing strong competition in its other core segments, notably plasma TVs (where the likes in phones Samsung and LG are making big strides) and games consoles (where Nintendo and Microsoft are giving PS3 a run for its money).
The company cut its full-year profit forecast by 17 percent to 240 billion yen. Its stock has fallen by 32 per cent so far this year.
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