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Appeared on: Wednesday, January 28, 2004
Sony posts record in sales, but profits down

Sony announced its group sales for the October-December quarter rose 0.7% from a year earlier to a record 2,323.4 billion yen on a quarterly basis, but net profit fell 26.2% to 92.6 billion yen

The Japanese high-tech giant attributed the robust revenues to increased sales of such products as mobile handsets, flat-panel televisions, DVD recorders and digital still cameras. But a rise in structural reform expenses, including retirement-related costs, dealt a blow to earnings, Sony said.