TOKYO (AP) — Japanese entertainment and electronics company Sony Corp. has posted a loss in the January-March, quarter, dragged lower by its flagging mobile operations and unfavorable currency rates.
Sony reported Friday a fiscal fourth quarter loss of 16.8 billion yen ($154 million), a reversal from the 27.7 billion yen profit posted a year earlier.
Quarterly sales rose 3 percent to 1.66 trillion yen ($15 billion).
Sony expects its profit for the fiscal year through March 2019 to stay flat at 480 billion yen ($4.4 billion). It logged a 490.8 billion yen ($4.5 billion) profit for the fiscal year through March 2018.
That marked a six-fold surge from 73.3 billion yen the year before, when the company absorbed big costs from its movie business and from an earthquake in southwestern Japan.