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.