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Sony forecasts lower annual profit as gaming business slows

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Sony forecasts lower annual profit as gaming business slows
FILE PHOTO: The Sony logo is seen on a building in the Manhattan borough of New York City, New York, U.S., Jan. 16, 2019. REUTERS/Carlo Allegri/File Photo   -   Copyright  Carlo Allegri(Reuters)
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TOKYO (Reuters) – Japan’s Sony Corp expects its annual operating profit to drop 9.4 percent, after two straight years of record highs, as its gaming business slows and its PlayStation 4 console nears the end of its lifecycle.

The electronics and entertainment firm forecast profit for the year through March 2020 at 810 billion yen (£5.6 billion), versus 894.2 billion yen a year prior.

This compares with an average forecast of 834.49 billion yen from 22 analysts polled by Refinitiv.

(Reporting by Makiko Yamazaki; Editing by Himani Sarkar)

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