Sony Projecting Big Fiscal Year Loss

[Nitey]

[For those interested]
Yearly losses now forecast at $1.2 billion.

Nintendo isn't the only company losing money. According to the AP, Sony is struggling, too. While Nintendo lost $924 million last quarter to Sony's more manageable $346 million loss, Sony has readjusted its fiscal year earnings to show a dramatic loss of funds. Originally projecting a yearly loss of $769 million, Sony is now forecasting losses of $1.2 billion.

According to the AP, this will mark the fourth straight year of Sony being in the red, though this is attributed to two major factors: poor television sales, and the same problem that ails fellow Japanese company Nintendo; the unusually strong nature of the Yen versus foreign currency, which makes overseas purchasing of Japanese products worth less. "A strong Yen erodes the value of Sony's overseas earnings," the article notes.

Kaz Hirai, Executive Deputy President of Sony, said that "management is feeling a serious sense of crisis about the seven years of losses," continuing that he "promise[s] to lead the turnaround to get [Sony] out of the red."

The article doesn't speak much to the PlayStation brand in particular under the Sony umbrella, only stating that the PlayStation Vita is being primed to be released in the coming months.

Source

They need to get rid of that failing TV business. Lost count of how many years it's caused nothing but trouble, lol. They are restructuring it yes but it really is digging in deep

*pats 40" 2010 bravia*

The yen is fucking up a lot of Japanese businesses right now
Anyway, hope the Vita is a huge success for Sony, they kinda need it to be, in a financial sense