Sony posts loss, but flogs more electronics

Weighed down by its financial unit, Sony posted a $45m loss for its fourth quarter earnings on Wednesday.

Analysts were expecting an average estimated profit of $260m for the quarter.

Revenue for Sony's videogame unit, which competes head-to-head with Microsoft and Nintendo, grew by 26 per cent in the past year, based on better sales of the PlayStation 3 console.

Still, the bright point of the company's quarterly report was its electronics business. Revenue was up 9 per cent due to increased sales of its digital cameras, camcorders and laptop PCs.

The TV unit struggled though, and in April the company announced it was replacing its top TV exec. But Sony has higher hopes for this year. It said it plans to sell 17 million flat-panel TVs in the next year, an ambitious goal. To do so, it will continue selling entry-level models, a practice it began last summer at supermarkets in the US and Europe.