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Sony Posts $232 Million Profit

Sony posted an operating profit of $232.5 million in the April-June 2006 quarter. “The biggest contributing factor was television. It was still in the red, but we made a substantial progress. We also saw brisk sales of digital cameras, and cost-cutting measures progressed smoothly,” said Chief Financial Officer Nobuyuki Oneda.

Sales for Sony’s movie division increased by 42% for the quarter, thanks to a strong performance by The Da Vinci Code. Sony’s PlayStation 3 will launch in November against Nintendo’s Wii and Microsoft’s Xbox 360. TV sales offset losses involved with the PS3. Sony now expects fiscal year operating profit to increase by 30% from their previous forecast.

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