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Sony shares slump after profit-forecast cut, Q2 loss

Group should reduce costs, launch more aggressive product, business reform: Fitch


SONY Corp lost US$2.2 billion in market value yesterday after chief executive officer Kazuo Hirai cut his earnings forecast and posted a loss because of stalling demand for Bravia TVs, Cyber-shot cameras and Hollywood movies.

The stock slumped 11 per cent in Tokyo trading,...

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