Tokyo - Japan's Sony Corporation (NYSE: SNE) has reported a quarterly profit decrease of 72%, despite an uptick in PlayStation 3 sales during the period, The New York Times reported.

Sony had already lowered its profit forecasts for its fiscal year, after seeing depressed sales of its Bravia televisions and digital cameras.

The company's stock price tumbled to a 16-year low on Monday.

Along with global economic issues, a stronger yen is raising the price of its products overseas, and in turn reducing the value of profits it earns in foreign markets, The Times noted.

In one bright spot, the company said it sold 2.43 million PlayStation 3 consoles during the quarter, an increase of 86% over the same period a year ago.

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http://www.nytimes.com/2008/10/30/technology/companies/30sony.html