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Sony struggles to another quarterly loss

Written by Andre Yoskowitz (Google+) @ 02 Nov 2011 14:44 User comments (5)

Sony struggles to another quarterly loss Sees fourth consecutive annual loss.
Sony has announced today that the company will see a $1.2 billion annual loss, compared to the $800 million profit they expected.

Additionally, the company has cut its TV, Blu-ray and PC sales targets due to the floods in Thailand.

TV sales have been lowered to 20 million units from 22 million and the floods will also delay the launch of new cameras, which combined will hurt profit expectations by $320 million.

In an effort to turn-around the struggling TV division, the company will write down the value of some facilities, launch less models and cut marketing expenses over the next two years.

Since 2003, the company has lost a shocking $6.15 billion from its TV division, alone.

Like with all Japanese companies, Sony is struggling with the strong yen, which reached levels not seen since World War II last week and is cutting severely into earnings.

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5 user comments

12.11.2011 14:49

Eh I'm suprised they aren't blaming it on piracy and the hacking of the PS3...lol


Just my $0.02,

dEwMe

22.11.2011 14:59

Karma's a bitch ain't it?

32.11.2011 19:43

Getting what they deserve...

42.11.2011 23:14

Wow...so it actually IS possible to alienate everyone on earth...and it doesn't take as long as expected?

From one former Sony fanboy turned Sony hater, I say they are not losing money fast enough!!!



53.11.2011 1:07

They made terrible decisions with their TV division. All the money they spent on 3D TVs was a waste as the technology is not attracting consumers yet. Most just upgraded to HDTVs and are not ready to shell out thousands more so soon. Also they need to humble themselves and price their TVs down closer to the level of the competition. The Sony brand isn't what it was in the 90s, so not as many people will pay that extra $200 for their name anymore.

I will give them credit for turning things around with the PS3. It's the best selling system worldwide this year and closing in fast on the 360. Reports say it finally turns a profit for Sony but not enough to clean up their TV mess.

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