Sony sinks to $199M quarterly loss on disaster

Sony sank to a 15.5 billion yen ($199 million) quarterly loss, hurt by the earthquake and tsunami in northeastern Japan, a massive online security breach and plunging TV prices.

Sony Corp. had posted a 25.7 billion yen profit in the April-June period the previous year.

The Tokyo-based electronics and entertainment company Thursday lowered its profit forecast for the fiscal year ending March 2012 to 60 billion yen ($769 million) from 80 billion yen ($1 billion) it gave in May.