Sony has announced that it is likely to report its fourth consecutive loss this year, marking a full leap year set without turning a profit.
The ever-lowering prices of televisions, weak demand, flooding affecting its Thai factories and unstable exchange rates have all taken their share of the blame from the company.
The recent flooding in Thailand has caused Sony to slash 25 billion yen from its earnings, while Sony's full year operating profit outlook has been cut by 90% to its lowest level in three years.
Denial is a river in Africa
Don't let the figures fool you, says Sony. "The losses don't tell the whole story," Shiro Kambe, head of corporate communications, said. "We actually kept or raised market share in TVs and other products."
But market share doesn't pay the bills – Sony's struggling television division is a real problem area. Sony announced that it was splitting the Bravia business into three parts earlier this week, after eight straight years of failing to make any actual money from it.
It's generally interesting times over at Sony HQ, where the company is currently massively restructuring in order to nurture future financial stability; not least by scooping up the smartphone business from Sony Ericsson and releasing a couple of Android tablets.
Hopefully it will pay off, and the next set of figures will paint a rosier picture for Sony.
From Reuters
