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Sony takes US$1b writedown on movie business
The TV-to-gaming group blames weaker film profits as online streaming services sap demand for movie DVDs
Published Tue, Jan 31, 2017 · 09:50 PM
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Tokyo
SONY Corp will write down the value of its movie business by nearly 112.1 billion yen (S$1.4 billion) for the third quarter, blaming weaker film profits as online streaming services sap demand for movie DVDs.
The Japanese TV-to-gaming group said on Monday that it had cut its outlook for earnings from DVD, blu-ray discs and other home entertainment in line with a market decline.
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