Weak Japanese currency helping Sony bottom line
POSTED: Thursday, February 7, 2013 - 11:00am
UPDATED: Thursday, February 7, 2013 - 11:04am
Sony says it is on track to make its profit forecast despite weaker demand for its products. Sony said that a weaker Japanese currency was offsetting weaker demand for its televisions, game consoles and other devices.
A rapid fall in the value of the yen against the dollar, and other currencies, is helping the company, which sells most of its products outside Japan. The yen weakened 11% against the U.S. dollar during the final three months of last year. A weaker yen makes Sony's products cheaper overseas, which in return helps drive demand for its products.