Sony Posts Big Loss!
Bad news for Sony stock holders as the company has recently released its annual numbers, and unfortunately they are posted a loss of just over one billion US dollars! That’s a big chunk of change and is, no surprisingly, the first loss that the giant electronics company has posted since the mid nineteen nineties (1995 to be exact). Also unfortunate, is that the company has warned that it is not expected to see growth in the upcoming quarters as its sales continue to decline in the face of this global economic recession. Also the decline of the US dollar against the Japanese Yen has been noted as another reason for the loss.
One of the worst performing areas of Sony’s business this year was its PlayStation division which lost almost eleven billion dollars in the last year. However, Sony has managed to cut down on the cost of manufacturing its PlayStation three console, and with software sales for the unit growing rapidly I would be surprise to see it operate it at a loss for too much longer.