Printed from http://www.electronista.com

Sony set to post first loss in 14 years?

updated 08:40 am EST, Tue January 13, 2009

Sony May Post Loss

Sony may be on the verge of recording its first practical loss in 14 years, sources for CNN say. The company is believed to be recording an annual loss equal to about $1.1 billion attributed directly to the poor world economy and its effect on the Japanese Yen, which has strengthened at the expense of Sony's primarily international business. As sales have dropped, the company and others have been pushed to discount electronics and thus reduced Sony's practical income.

Sony spokeswoman Mami Imada calls the claims "speculation," though the company is expected to formally confirm or deny the report when it posts results on January 29th.

The company has already had to cut 16,000 jobs and is believed to potentially require more to stem its losses should the report prove accurate.

While Sony's core BRAVIA TV lineup has lately proven successful, the company is known to have had trouble with its TV studio business and has regularly had difficulties with its PlayStation 3 console, whose higher price has turned customers towards the Nintendo Wii and Microsoft Xbox 360, particularly in North America.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. Monstermind

    Junior Member

    Joined: May 2000

    +1

    You want gains?

    Lower the price of the PS3. Then we'll talk.

    And for God's sake, redo the PS3's form factor. It looks ridiculous.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News