Thread: Anyone read this yet-Sony to report $3.2 billion annual loss

Came across this news on the internet (AP) :-

Sony to report $3.2 billion annual loss

TOKYO: Sony Corp is expecting an annual loss of US$3.2bil (RM9.6bil), reversing its earlier projection of a return to profit, as the electronics giant struggles with production disruptions from Japan's tsunami and a hacker attack on its online gaming service.
The Japanese maker of PlayStation3 videogame machines and Bravia flatpanel TVs said the projection of a 260bil yen (RM9.6bil) net loss for the fiscal year ended March 2011 was largely due to writing off 360bil yen (RM13.2bil) related to a tax credit booked in a previous quarter.
Sony announced the loss ahead of its official earnings announcement on Thursday under Tokyo Stock Exchange guidelines. The company had earlier projected a 70bil yen (RM2.6bil) profit.
Like many other Japanese manufacturers, Sony has been hampered by the production disruptions set off by the March 11 earthquake and tsunami that killed more than 25,000 people, destroyed many factories and sent the nation's economic recovery into reverse.
The company kept its operating profit forecast unchanged at 200bil yen (RM7.38bil). It expects to report sales of 7.18 trillion yen (RM264.6bil), slightly down from an earlier projection of 7.2 trillion yen (RM265.5bil).
Masaru Kato, Sony's chief financial officer, said parts shortages in the aftermath of the disaster have eased but a full recovery hasn't yet been realised.
"In the first quarter, we saw quite a major impact on our manufacturing activities," he said. After the quake, "negative factors have grown bigger" and offset earlier improvement in the previously loss-making games division, dashing hopes for a profit.
Tokyo-based Sony also faced a new challenge to its reputation following a massive security breach affecting more than 100 million online accounts.
After temporarily closing down its online gaming services last month, Sony began restoring its PlayStation Network services in the United States. and Europe on May 15 mainly for online gaming, chat and music streaming services.
Sony spent 14bil yen (RM510mil) to cover costs that included identity theft insurance for customers, improvements to network security, free access to content, customer support and an investigation into the hacking.
Sony has seen plunging sales of flatpanel TVs and other gadgets, and was likely to remain in the red in its TV business for the seventh year straight.
It has also taken a beating in music players and other portable devices to Apple's iPod, iPhone and iPad.
The company booked a 40.8bil yen (RM1.3bil) loss for the fiscal year ended March 2010 after a 98.9bil yen (RM3.7bil) loss the year before - Sony's first annual red ink in 14 years. - AP

I would like to say "take that sony!" but then again, a lot of people died so it's not cool

Originally Posted by dazzy1985

But then again your a w a n k e r

exactly what is your problem?

I have a feeling Sony is going to hit the bricks the same way Sega did.

Sony always over estimates profits.
The tax credit is made from the previous years of losses.The law states companies have to report and use these tax credits (losses)within seven years.Sony are using the credits now because the natural disaster will take care of future years of losses.If Sony stays in business.
Sony is trying to blame most of their problems on the natural disaster instead of management.
Sony TV division in the red for the past seven years.Sony Ericsson had a 4%market share for smartphones in 2009,in 2010 it is 1%.Sony Music down 17%.Sony Financial is in trouble.
The disaster only accounts for 3 out of 52 weeks of earnings(fiscal year ends March 31).
Sony would still be reporting a loss regardless of a natural disaster.
I don't know if the two new Sony tablets and the 3D Smurf movie will be enough to put Sony back into profitability.

no sony no ps4>< we`ll be stuck w/ MS.....

I want at Atari 7300.

Who's with me?

where's your source? nobody really knows if that's true without a source.

Originally Posted by HeyManHRU

I want at Atari 7300.

Who's with me?

+rep for that one

Originally Posted by hotshot247

where's your source? nobody really knows if that's true without a source.

really?
when it says AP as in

Came across this news on the internet (AP) :-

the source is Associated Press
here's the link
http://hosted2.ap.org/APDEFAULT/495d...3c1d014079f22f

naw for me C128 i would love get my hands on...

for me its not bad for sony, more like too bad for the workers/investors which are ones taking the hit...:(