November 04, 2011

Sony Projecting Massive Fiscal Year Loss


Sony have suffered over the years, but this one takes the cake! check out Sony's fiscal year loss.

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 "promises 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.

So then what do you think of the loss? could losses like this mean a price increase for the PS Vita? or is there no chance of Sony ever succeeding? Let us know in the comment section below!








Source:
http://uk.ps3.ign.com/articles/121/1211377p1.html

 
                     
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