Operating profits of Japan's Sony declined by 57% in the fourth quarter, and the company declined to provide forecasts for the current year due to the ambiguity associated with the outbreak of the Corona virus. According to Reuters, the electronics and entertainment company achieved operating profit of 35.45 billion yen ($ 331 million) in the quarter between January and March, compared to 82.73 billion yen. A year ago, the Corona virus struck demand for its sensors for images from smartphones, cameras and televisions. The results are compared to an average of 73.77 billion yen that nine analysts expected in estimates compiled by Refinitiv. The uncertainty over the economic impact of the public isolation measures caused by the Coruna virus continues, making it difficult to forecast sales of consumer devices later in the year. Operating profit for the year ended March 845.46 billion yen, down 5.5 percent compared to the previous year after record highs achieved for two consecutive years. Sony said that the impact of the outbreak reduced the full year profit by 68.2 billion yen, of which 35.1 billion in consumer electronics activities. Sony suspended production in some factories as governments around the world imposed extended restrictions on movement and corporate activities to contain the virus. But gaming activity recorded a positive impact of 2.8 billion yen in the outbreak, as consumers committed to staying at home looked for entertainment. The company reported a 28 percent drop, which was less than expected, to 46.2 billion yen in fourth-quarter earnings despite its aging PlayStation 4.
