Andre Yoskowitz
2 Feb 2012 14:34
No wonder they just replaced the CEO.
Just a day after appointing Kaz Hirai as the new CEO of the company, Sony has posted an operating loss of $1.2 billion. The loss was larger than expected.
Sony saw the loss on $23.4 billion in revenue for the year, which was down 17 percent to fiscal 2010.
For the entire fiscal year, Sony is now projecting a loss of $2.9 billion, over double its forecast from last year.
During the quarter, Sony had to take a large loss "primarily due to an impairment loss on the shares of S-LCD, which were sold in January 2012, and the recording of a valuation allowance on deferred tax assets at Sony Ericsson."
To make matters worse, Sony cut its forecast on PS3 sales to 14 million from 15 million and digital camera sales from 23 million to 21 million.