Japanese
electronics maker Sony swung to a loss in the April-to-June period
after the earthquake and tsunami hit production at its factories.
The company reported a net loss of 15.5bn yen ($199m; £122m) for the quarter.That was down from a 25.7bn yen profit during the same period last year.
Sony also cut its forecast for its full-year earnings by 25% to 60bn yen, from an original projection of a profit of 80bn yen.
The company said sales and profit "were mainly affected by the negative impact of the Great East Japan Earthquake as well as the deterioration of the electronics business environment, and unfavourable exchange rates".
Switched off? Sony reported sales of 732bn yen during the first quarter, a 17.9% decline from the same period a year earlier.
Sony also warned that as economic woes in its key markets continued, it expected TV sales to fall even further. "LCD TV unit sales for the fiscal year are anticipated to be below expectations," it said.
However, analysts said that while demand from key markets had been falling, increased competition was also hurting the company.
"They are facing a lot of competition and also the strong currency. Competition is [increasing] globally," said Yoji Takeda of RBC Asia Equity Fund.
Mr Takeda added that for Sony to recapture its market share, it would have to come up with a range of more competitive products.
"The TV market is a very tough market because nobody is really making money and there is a lot of capacity available right now," he said.
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