SonyBMG have further reduced their losses this year as they continue to battle to go back into profit.

SonyBMG have further reduced their losses this year as they continue to battle to go back into profit.

The major record company has just posted a net loss for the second quarter of $8million, which compares to losses of $39m and $60m in the same quarter in 2006 and 2005 respectively.

CMU Daily reports that the significant fall in losses comes despite a 10.2% drop in sales blamed on the overall declines in the global CD market and a relatively quiet release schedule in the second quarter compared to the same period the previous year.