Sony Corp.'s group net profit for the first quarter of this fiscal year nosedived 98 percent to 1.1 billion yen from a year earlier, the company said Thursday.
Sony blamed the disappointing outcome on weak demand for TVs and the absence of a followup movie hit since "Spider-Man."
But the company is optimistic about the rest of the year, with the U.S. and European economies expected to pick up through the latter half, according to Sony officials.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.