Nintendo Co. shocked investors last week by lowering its profit forecast for the year. Analysts are concerned Sony Corp. could be next.
At least nine analysts cut their profit estimates for Sony over the past two months after slow holiday sales of televisions, personal computers and cameras. The average of 20 brokerage estimates compiled by Bloomberg predicts that net income will be ¥23.1 billion for the year ending on March 31, more than 20 percent less than Sony's latest forecast.
Shrinking demand for TVs and PCs is increasing pressure on Chief Executive Officer Kazuo Hirai as he tries to wring benefits out of the company's holdings, from consumer electronics to mobile phones to entertainment.
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