TOKYO, Japan (CNN) -- Sony blamed the global economic slowdown, increased competition and an appreciating yen for a 95 percent drop in third-quarter profits, as the company announced its results Thursday. Customers check Sony's Bravia brand LCD TVs at an electronics shop in Tokyo, Japan. Profits for the quarter, which ended December 31, fell from nearly 200 billion yen ($2.2 billion) in 2007 to about 10 billion yen ($110 million) in 2008. Across the company, sales were down 25 percent, but electronics and games sales were especially hard hit. Sales of games, including the company's popular PlayStation series, fell 32 percent over the year. Sales of electronics decreased by nearly 30 percent.
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Sales were down 25 percent across the company
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Electronics and games especially hard hit, with sales falling 30 percent or more
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Sony warned last week it will close out fiscal year with operating loss of $2.9 billion
A stronger yen makes @placeholder products more expensive or forces companies to lower their profit margins to keep prices the same.