Tech Industry

Sony profit craters amid struggles with PS4, phones, cameras

Though the Japanese giant was able to stabilize losses in its phone unit, its revenue still plunged 40 percent.

Maybe the PlayStation 4 Pro will spark sales?

It's not a great time for Sony right now.

A day after cutting its profit forecast and shedding its battery business, the Japanese electronics conglomerate posted second-quarter results (PDF) that underscored the challenges it faces on multiple fronts. The company saw its revenue fall 10.8 percent, to 1.69 trillion yen ($16.19 billion), while its profit plunged 86 percent, to 4.8 billion yen ($46 million).

Sony's gaming business suffered from a price cut on the PlayStation 4 and a decrease of PS3 software sales. Though the company shored up the losses in its phone business, it still saw a 40 percent decline in revenue after removing several midrange phones.

Also weighing on its profit were losses in its chip and components business.