Sony to make fourth annual profit loss

Sony to make fourth annual profit loss
Sony: must be funny in a rich man's world

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

News Editor (UK)

Former UK News Editor for TechRadar, it was a perpetual challenge among the TechRadar staff to send Kate (Twitter, Google+) a link to something interesting on the internet that she hasn't already seen. As TechRadar's News Editor (UK), she was constantly on the hunt for top news and intriguing stories to feed your gadget lust. Kate now enjoys life as a renowned music critic – her words can be found in the i Paper, Guardian, GQ, Metro, Evening Standard and Time Out, and she's also the author of 'Amy Winehouse', a biography of the soul star.