TOKYO, Japan (AP) -- Sony's second-quarter profits have plunged 72 percent with a surging yen wiping out the benefits of solid flat-panel TV and PlayStation 3 game machine sales.
The Japanese electronics and entertainment company reported Wednesday net profit of $214 million for the period from July through September, down 71.8 percent from the previous year.Revenue from Sony's hit movie "Hancock" wasn't enough to offset the hammering the maker of the Walkman portable player is taking from the strong yen.
A rising yen erodes the value of overseas profits for Japanese exporters like Sony.
The Japanese electronics and entertainment company reported Wednesday net profit of $214 million for the period from July through September, down 71.8 percent from the previous year.Revenue from Sony's hit movie "Hancock" wasn't enough to offset the hammering the maker of the Walkman portable player is taking from the strong yen.
A rising yen erodes the value of overseas profits for Japanese exporters like Sony.
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