Sony Profits Low, Halts CRT Production

mtndue1 writes "Forbes is reporting that with lower than expected profits, Sony is halting the production of CRT's for televisions at many of its plants. The restructuring move is meant to catch the company up with other manufacturers who moved to LCD displays more quickly." From the article: " In the second quarter to September, net profit dropped 46.5 pct to 28.5 bln yen, pressured by 32.3 bln yen in restructuring expenses to write down the impaired value of its cathode-ray tube (CRT) plants. Under the plant closure program, Sony will shut down some of its CRT television assembly factories by March 2008 in order to shift its focus to the flat-screen TV business ... In a bid to revive its game division, Sony plans to release its next-generation stand-alone PlayStation 3 game console in the spring. To speed up development of PlayStation 3, Sony plans to devote 410 bln yen to capital investment in the year to March, up from 356.8 bln yen a year earlier."