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Sony's key image sensor business hit by smartphone market decline

Japanese group forecasts 12% drop in net profit for FY2020 amid coronavirus

Sony's plan to launch its next-generation console PlayStation 5 around the end of the year is still on track. (Photo by Masayuki Kozono)

TOKYO -- Sony expects net profit for this fiscal year to slide 12% to 510 billion yen ($4.8 billion), marking the lowest level in three years, the Japanese conglomerate said on Tuesday, as the economic fallout from the coronavirus pandemic puts the brakes on its image sensor business.

"Business confidence and economic activity have weakened amid the coronavirus and has led to a slowdown in the smartphone market," said Sony Chief Financial Officer Hiroki Totoki.

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