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

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News