Sony reported an eighth consecutive quarterly net loss of $115 million today as the Japanese company continues to suffer from a weak demand for televisions worldwide.

The company was not as far in the red in 2012, however. In the same quarter the previous year, Sony posted a $1.7 billion net loss.

Sony brought in $22.4 billion in revenue in its October to December quarter up nearly seven percent from the same time last year. The company attributed the improvement to its mobile products and communications business, which enjoyed a 94.4 percent year over year increase.

Sony’s pictures division and financial services division, meanwhile, saw a 30 percent and 21 percent revenue surge respectively.

Sony’s game division revenues, however, dropped 15 percent while the home entertainment and sound division dipped 18 percent. The firm sold only 4.2 million LCD sets globally in 2012 —1.2 million fewer than last year.Increased competition and a high yen have also taken a toll on Sony.

Despite the issues faced by the firm, Sony is predicting it will return to profit for the quarter ending in March.

Part of the plan to achieve that goal is a new range of products including mobile devices, cameras and a new-generation Playstation 4.

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Sony Records Quarterly Net Loss of $115M

Sony Records Quarterly Net Loss of $115M


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