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Sony’s profit nearly halved by film results, tax, lower sales
MUMBAI: Media and consumer electronics giant Sony has announced its results for the second quarter ended 30 September 2005. Profits dropped 46 per cent to $246 million on $15 billion as a result of lower revenues in the movie business and a heavier tax burden.
Sales of television sets and Walkman music players fell and its Hollywood studio failed to produce any big hits. Sony would have reported a loss were it not for a one-time gain equivalent to $637 million. The gain resulted from the transfer of part of the company’s employee pension plan to the government.
Sales were up in Sony’s game unit because of healthy demand for the PlayStation Portable, or PSP, handheld machines. However results were not too good in the company’s core electronics unit. Rising sales of liquid-crystal display TVs and camcorders failed to offset falling sales of plasma TVs and digital cameras.
Sony has also reiterated its outlook for a loss of nearly $87 million for the fiscal year ending in March. It would be the company’s first annual loss in more than a decade.
Media reports indicate that Sony has been slow to take advantage of new trends like portable digital music, where it trails Apple Computer’s popular iPod. The company has also struggled to respond to cheaper rivals in lower-wage Asian countries like China that have flooded global markets with television sets, DVD players and other consumer electronics.
One factor that affected Sony’s results were higher corporate tax payments, totaling 65 billion yen ($561 million) in additional expenses.
Sony had announced a revival plan last month under its new CEO Howard Stringer, the first foreigner to head the Tokyo-based company. Stringer had come to India last week to celebrate the company’s 10th anniversary in the country.
Sony said that it also took special losses for its equity holdings in an LCD panel joint venture with Samsung Electronics Also hurting earnings were losses related to its MGM acquisition as well as those linked to its investment in its music division Sony BMG Music Entertainment, which was formed after Sony’s music unit combined with German media company Bertelsmann’s BMG label.
GECs
Asianet Television Awards 2026 celebrates women power in Malayalam TV
“She is the Colour” theme honours icons as ceremony airs on March 14 and 15 at 7 PM.
MUMBAI: If television lights up living rooms, this year Asianet decided to let women provide the colour. The Asianet Television Awards 2026 turned the spotlight firmly on women empowerment with the theme “She is the Colour”, celebrating the strength, resilience and achievements of women who continue to shape society and the Malayalam entertainment industry.
The ceremony honoured several distinguished personalities whose journeys have left a lasting cultural imprint. Among them was legendary playback singer Vimala Varma, widely recognised as the first Malayalam playback singer. The evening also paid tribute to Padma Shri awardees Devaki Amma and Vimala Menon for their exceptional contributions in their respective fields.
Leading women from the Malayalam film industry were also recognised during the event, including actor Shweta Menon, who currently serves as president of the Association of Malayalam Movie Artists, and National Award winning actor Surabhi Lakshmi.
The awards ceremony brought together a glittering lineup of actors and industry figures, including Jayasurya, Vijay Babu, Asha Sarath, Lena, Esther Anil, Anumol, Akhila Bhargavan, Sarayu Mohan, Prajod Kalabhavan, Gayathri Suresh, Sabumon Abdusamad, Swasika, Tini Tom, Sijoy Varghese, Kailash, Veena Nandakumar, Sabareesh Varma, Ansiba Hassan and Dinesh Prabhakar. Kishan Kumar, executive vice president Malayalam at JioStar, was also present at the event.
Beyond individual recognitions, the awards celebrated excellence across Malayalam television, acknowledging artists and technicians whose work continues to drive the industry forward.
The evening also offered plenty of spectacle, with elaborate dance performances, stunt acts and comedy skits performed by popular television and film personalities, turning the ceremony into a full fledged entertainment showcase.
Viewers will get to watch the celebrations when the Asianet Television Awards 2026 air on Asianet on March 14 and 15, Saturday and Sunday, from 7 pm onwards, bringing the star studded tribute to homes across Kerala and beyond.
