Featured Articles

Apple announces its Apple Watch

Apple announces its Apple Watch

Apple has finally unveiled its eagerly awaited smartwatch and surprisingly it has dropped the "i" from the brand, calling it simply…

More...
Skylake 14nm announced

Skylake 14nm announced

Kirk B. Skaugen, Senior Vice President General Manager, PC Client Group has showcased Skylake, Intel’s second generation 14nm architecture.

More...
Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

The day has finally come and it appears that most rumors were actually spot on as Apple has now officially unveiled…

More...
CEO: Intel on target for 40m tablets

CEO: Intel on target for 40m tablets

Intel CEO Brian Krzanich just kicked off the IDF 2014 keynote and it started with a phone avatar, some Katy Perry…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 13 January 2009 09:27

Sony to post a $1.1 billion operating loss

Written by Nedim Hadzic

Image

For the first time in 14 years

 

The global economy downturn picks no sides it seems, as analysts report that Sony is expected to post an operating loss of around $1.1 billion in the business year to March 31.

The reason for this is reported as sluggish sales and a stronger yen, but Nikkei reports that we might even see these figures double, and Yahoo Finance cites another unnamed source which confirms the estimate.

The higher than expected loss could put more pressure on Sony execs to accelerate a restructuring plan announced last month, under which the company would cut 16,000 jobs and further curb investment.

Recent stock exchange activity saw Sony drop by 8 percent and Toshiba Corp by 7 percent, which was also predicted by the Japanese media. It’s important to note however, that this is the first time in 14 years that Sony could post an operating loss, and only the second the company has faced one since it went public in 1958.

Sony refused to comment, dismissing such claims as pure speculation. On the other hand, Nintendo appears to be on the safe side, for now at least.

You can find an in-depth report here.

Last modified on Tuesday, 13 January 2009 11:01

Nedim Hadzic

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments