Sony Financial Woes
Reuters reports:
Sony Corp […] slashed its annual operating profit forecast by 57 percent to far below market estimates in its second downward revision this year, blaming a firmer yen and slower flat TV and digital camera demand.
The good news is that their gaming division has been slightly profitable in recent quarters. Last year, Sony’s gaming division was causing large losses while the electronics division was pulling in larger profits. What’s better for PlayStation fans: A profitable gaming division or a profitable company overall? I would presume the former, which is what we’ve seen in recent quarters. Hopefully, that will shield that division from major cuts or restructuring efforts that might otherwise interrupt the momentum they are having on the PlayStation business.
Sony will release their FY Q1 report soon, so we shall see.
(after 3 weeks... but for 23.5€ I cannot remotely complain!)
So merry Christmas!
October 24th, 2008 at 9:22 am
From the desk of Sir Howard Stringer
to: Steve jobs.
Save us.
You’ve got 25 billion in cash. We’ve got a globally recognized Consumer Electronics brand.
I believe that a combined Disney/Apple/Sony brand would be great.
Call me. No reasonable offer will be refused.
October 24th, 2008 at 10:32 am
lol