Posted on February 2, 2012 AT 08:26am
According to the company sales fell 17.4 percent year-over-year, “primarily due to the impact of the floods in Thailand, deterioration in market conditions in developed countries, and unfavourable foreign exchange rates”. The Consumer Products and Services division — which houses Sony’s PlayStation devision — recorded a quarterly operating loss of 85.7 billion yen.
EGM’s TAKE: Sony has had a tough year and has a long road ahead to repair the damage. The majority of incidents have been out of its control, but it’s going to take strong leadership to fix these issues and get the company back into profit. However, many companies are recording a loss due to the tough economic climate, this is nothing out of the ordinary and shouldn’t be too much of a worry.
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