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Sony's profits go up in flames
Sets aside $432m to pay for recall
By ElectricNews.Net
Sony's quarterly profits plunged 94 per cent following fall-out from its exploding battery woes.
The consumer electronic giant's predicament is there for all to see as it posted net profits of just 1.7bn yen ($14.3m €11.3m) for its second financial quarter on Thursday. Sony also reported an operating loss of 20.8bn yen ($175.6m €138.4m), down from an operating profit of 74.6bn ( $630m€496.5m) a year earlier.
Profit figures included a 51.2bn yen ($432m €340.9m) provision for charges linked to the recall of nearly 10 million faulty laptop batteries Sony supplied to several manufacturers, including Dell, Lenovo and Apple. Sony had initially estimated a recall of 5.9 million units but that has increased as more manufacturers recalled batteries, including Fujitsu which recalled 287,000 batteries earlier this month.
The recall was initiated after a small number of laptop users reported their devices spontaneously combusting.
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Sets aside $432m to pay for recall
By ElectricNews.Net
Sony's quarterly profits plunged 94 per cent following fall-out from its exploding battery woes.
The consumer electronic giant's predicament is there for all to see as it posted net profits of just 1.7bn yen ($14.3m €11.3m) for its second financial quarter on Thursday. Sony also reported an operating loss of 20.8bn yen ($175.6m €138.4m), down from an operating profit of 74.6bn ( $630m€496.5m) a year earlier.
Profit figures included a 51.2bn yen ($432m €340.9m) provision for charges linked to the recall of nearly 10 million faulty laptop batteries Sony supplied to several manufacturers, including Dell, Lenovo and Apple. Sony had initially estimated a recall of 5.9 million units but that has increased as more manufacturers recalled batteries, including Fujitsu which recalled 287,000 batteries earlier this month.
The recall was initiated after a small number of laptop users reported their devices spontaneously combusting.
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