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Sony Q3 Electronics Sales Drop 4.6%

Tokyo – Although sales dipped 4.6 percent in Sony’s Electronics segment during the fiscal third quarter the strong performance of video products, components and semiconductors resulted in an increase in electronics segment operating income.

Consolidated Sony sales for the third quarter edged up 1.2 percent, reaching $19.2 billion, climbing from $19 billion in the same three months the previous year.

Sony said this was due to what the giant consumer electronics maker called ‘the severe operating environment.’

Despite the dip in sales, net income for all of Sony for the quarter took a 95.9 percent leap, hitting $1 billion, up from $537.5 million in the third quarter of 2001.

Sony credited improvement in the segment’s profit structure for the positive operating results.

Sales in the electronics segment for the three months, ended Dec. 31, were $12.2 billion, down from $12.8 billion in the year-ago period.

Operating income climbed 14.1 percent, hitting $685 million in the third quarter, up from $600.8 million in the same quarter in 2001.