If you're a Sony stockholder, look away now. Seriously, I kid you not - this is not going to make happy reading. For the rest of us, it is my duty to report that Sony has just revised its earnings forecast for next financial year by a massive 57 per cent, according to MCV UK. It could be worse, at least Sony Still expects to profit, but it's not good by a long stretch.
The 2007/2008 figures didn't exactly make great reading, what with the £2 billion dent the PS3 was revealed to have made in Sony's profitability so another year of less-than-ideal performance isn't exactly what the doctor ordered.
The revised, 57 per cent lower, profit forecast now sits at ¥200 billion (~£1.27 billion) which isn't by any means a small amount. Sony is apparently blaming the combination of the Yen's increasing strength and a lack of demand for its products, especially LCD TVs, for the slump.