Sony has been spending years trying to return to its former glories, also featured weak sales of video cameras and a steep slump in personal computers in the July-September quarter. With a quarterly net loss of $197 million, Sony's bad-news came in stark contrast to the upbeat news from its rival Panasonic.
Panasonic, which is shifting its business away from consumer electronics, is reporting better-than-expected results. Sony’s TV operation flipped from an operating profit in April-June, its first quarterly profit in three years, to an operating loss. Overall, Sony said that its operating profit would be flat in comparison to last year.