Published in News
Sony expects record $6.4 billion loss
Beyond pessimistic forecasts
Sony is forecasting a $6.4 billion net loss for the past business year, March 2011 to March 2012. The losses were inflated by writing off deferred tax assets in the US and they exceeded earlier forecasts twofold.
This is Sony’s fourth consecutive year of losses and the fledgling consumer electronics giant is struggling to turn things around. The company is expected to axe 6 percent of its workforce, or roughly 10,000 souls.
Sony’s TV division seems to be the weakest link. It is estimated the TV business accumulated more than $10 billion losses over the past decade.