Sony Confirms Rumours, Warns Of Loss

Author Hugo Jobling
Published 23rd Jan 2009
Sony Confirms Rumours, Warns Of Loss
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We've heard the rumours of Sony recording a loss this quarter, and it looks like they're going to prove true, based on Sony's just-published revised predictions. Sony now expects net loss of ¥150 billion (~£1.22 billion), a definite change from the previous estimate (from October last year) of ¥150 billion profit and last year's actual net profit of ¥369 billion (£3 billion).

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In Sony's words: "Consolidated sales and operating income for the second half of the fiscal year ending March 31, 2009 are expected to be significantly lower than the October forecast, primarily due to a deterioration in the business environment as a result of the global economic slowdown, the continued appreciation of the yen, the impact from the decline in the Japanese stock market and an increase in expected restructuring charges."

In other words, no-one is buying Sony's products, the Yen is getting stronger (making Sony's over-seas income worth less to the company) and Sony is spending money on restructuring to make the business more cost-effective in the future.

Link:
Sony Investor Relations.

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Latest 4 of 15 Comments

Have your say: Leave a comment below about this article.

comment hank said on 26th January 2009

@mad iguana

Yes, you're perfectly correct, i must get into cookery TV or non celebs or maybe even DVD's, is American Pie 26 out yet?

I still... more

comment Mad Iguana said on 26th January 2009

Good point Hank - everyone who disagrees with you is a brain-dead reality TV addict.
And it's all Sony's fault.

comment hank said on 26th January 2009

@mad iguana

So good you totally missed it LOL

And no that's not Sony's fault, unless you make the Simon Cowell/Sony BMG connection, neither ... more

comment Mickey said on 13th February 2009

Since my favourite PC maker 'Dan' packed up I have only bought Sony laptops. However I hate the new glossy ones and want something similar in design to my trusty FE11S. ... more

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