First Expected Loss Since ’95, Second Ever
The Nikkei Business daily reports that Sony is expected to announce an operating loss of at least ¥100 billion, or $1.1 billion. Nikkei also reports that it’s possible the actual loss reported could be double that number.
If it holds, that will be first loss the company has posted in 14 years, and just the second ever since the company’s inception in 1958. Sony had previously estimated in October that it would post a profit of ¥200 billion.
To combat the losses, Sony has stated it will cut 16,000 jobs and pull out of some facets of its business. Sony will also perform a ¥50 billion write down of its holding in the Sony Life Insurance Company.
Many look to Sony’s electronics division as bringing the whole company down. This news may fuel the fire that the Playstation 3 and, perhaps, the entire Playstation division of the company is in big trouble.
Sony stock is trading down sharply in Asian markets, and this news helped to send the entire Nikkei stock exchange down in today’s trading.
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you damn sick hackers and your custom firmware! you!
That’s not just it a lot of things is keeping sony down.
They should realy drop the priced on the PS3, to $300.00-$350.00. It would realy get ps3 selling well.
all I gotta say Sony is don’t even think of blaiming the economy. Take responsibility for your mistakes.