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| Sony posts $1b loss, first in 14 years |
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Here's the good news: Sony's ¥98.9b ($1.03b) loss is slightly less than the $1.1b the company told us it would lose in January. Sadly, all of the other news is bad, starting with the fact that the company just lost a freaking billion dollars, its first loss in 14 years, and it's predicting a similar $1.1b loss next year. Electronics sales were down 17 percent, the Sony-Ericsson phone partnership is struggling, and game division sales dropped 18 percent primarily due to Sony's continued reliance on falling PS2 sales. As for the PS3, it's actually a dim bright spot: hardware cost reductions and increased game sales slightly stemmed the tide, but Sony's still expecting the division to lose money in the coming year. Sony also says it has "extensive measures" in store to try and turn things around after that, so we're hoping Sir Howard's plans to embrace open formats and listen to consumers are kicking into gear, but we'll see.Read - Sony financials [Warning: PDF]Read - Reuters reportRead - MarketWatchFiled under: Misc. GadgetsSony posts $1b loss, first in 14 years originally appeared on Engadget on Thu, 14 May 2009 11:23:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
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| | 5/14/2009 3:55 PM (190d 18h 45m ago) |
| Sony 2009 line show: Complete coverage |
| | Consider yourself invited: CNET pulls back the curtain to Sony's Vegas event.(Credit: Sony)
Most companies use the January Consumer Electronics Show to show the world their product lineup for the new year. But Sony deliberately holds back on its CES announcements; that's because the company waits about eight weeks before returning to Las Vegas to have its own Sony-centric launch event, where it touts its new products for dealers, retailers, and journalists.
Photos: Sony hauls cameras, electronics to Vegas
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| | 3/04/2009 5:39 PM (261d 17h 1m ago) |
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