Sony Profits Slump

A strong yen and PS2 launch costs are driving down Sony's profits. The company is reporting the profits are off 32 percent from last year's mark, though earnings still reached nearly $1.1 billion. Group operating profits from Playstation consoles and games, Sony's biggest earner last year, fell 43.3 percent in the wake of massive costs associated with the Playstation 2 launch and weak sales of its predecessor. The yen continued to be the major obstacle to increased profits, however. The company reported that free of an appreciating yen group operating profits would shown a 39 percent increase over last year.