By Leo Lewis in Tokyo
Wednesday, January 31, 2007
 
Sony suffered a 15 per cent fall in third-quarter profits after heavy losses at its games division offset strong pre-Christmas sales at its core electronics business. But the group raised its earnings forecasts for the full year.

The strong showing in electronics persuaded some analysts that the group may have begun finally begun its long-awaited turnround.

However it gave no solace to video game fans hoping for price cuts to the PlayStation3 console, which the company's chief financial officer, Nobuyuki Oneda, said would remain at its current price of Y59,900 ($492) for “two or three years”.