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Sony’s profit with slight decrease in the end of 2010

The largest Japanese manufacturer of consumer electronics Sony reported a slight decline in profit for the quarter, but managed to surpass market expectations thanks to good sales of compact cameras. The Sony's net profit decreased by 8.6 percent annually for the three months to the end of December to 72.3 billion Japanese yen (886 million dollars) compared with 79.2 billion yen a year ago. The market forecasts were for a smaller profit of 65.9 billion yen. The appreciation of the yen in 2010 is among the factors to reduce the positive financial result, with fierce competition in the market of consumer electronics with its Korean rivals. For better than expected financial results helped sales of cameras, mainly Series Cyber-Shot. From Sony plans to launch a Tablet PC and a new version of handheld video games for PlayStation Portable. The operating profit of Sony, or the difference between sales and cost of goods sold and administration decreased by 5.9% yoy to 137.5 billion yen. The revenue reported a slight decrease of 1.4% yoy to 2.21 trillion. yen. The shares of Sony rose 0.7 percent in today's session of the Tokyo Stock Exchange before the announcement of financial results. Last year, their price rose by 9.6 per cent, while that of Korean shares in Samsung Electronics, which is the largest television manufacturer in the world rose by 19 per cent.