Sony Posts Poor Quarterly Earnings, Cuts Sales/Profit Predictions
August 2, 2012 1:59 PM
comment(s) - last by
Sony CEO Kazuo Hirai
The company said a weak global economy and exchange rate moves are the cause
Sony is in hot water -- that's nothing we haven't heard before. The electronics company has been struggling with areas like its TV sector for a while now, and these troubles are reflected in the most recent financial earnings report.
Sony posted operating profit of $6.28 billion yen ($80 million), a significant 77 percent decrease compared to one year earlier. Analysts only predicted a 36 percent profit drop.
Sony had a 94 billion yen operating loss and $24.64 billion yen net loss for the quarter ended June 30.
Also, Sony slashed its previous financial predictions for the year until March 2013. It cut its operating profit forecasts from 180 billion yen to 130 billion yen, and also reduced its TV shipment predictions from 17.5 million to 15.5 million as well as its handheld device sales from 16 million to 12 million.
One glimmer of light, however, is that PlayStation sales are remaining at the previous prediction of 16 million sales.
So what's Sony's beef? The company said a weak global economy and exchange rate moves. Also, a lot of it has to do with the company's TV unit. Last December, Sony decided to shake up its TV division by
negotiating a buyout
of its 50 percent manufacturing stake with Samsung in the LCD joint venture. It also
split its TV division into three units
consisting of sales of LCD TVs, outsourcing manufacturing to cheaper foreign facilities and developing future TVs.
But help may come in the form of the new CEO,
, who was appointed to the position in February 2012. He vowed to
take over the struggling TV unit
himself, and made
other management changes
to help bring the company back to life.
In April 2012, Hirai came up with an
entirely new game plan
for making Sony profitable, which included design changes to gadgets like TVs, a reduction of certain models, and expanded game titles and subscription services.
Despite Hirai's best efforts, the company had to
cut 6 percent of its global workforce
in April in order to save some cash. Later, in May, Sony reported a record
$5.7 billion USD annual loss
This article is over a month old, voting and posting comments is disabled
RE: Sony makes best 15" laptops on the market
8/2/2012 8:22:05 PM
"One thing to note: You can't see any reflections on the Vaio SE. Shows how awesome the anti-glare is. Should you buy one even if the colour is off? Yup."
That's exactly what I thought after I got this laptop. I'm not a photographer so I don't give a thing about color gamut but the antiglare is best I've seen in my life, so I paid $1200 to Sony without hesitating and I'm likely to pay again, 'cause my wife wants the same laptop now instead of her ancient 2007 Dell Vostro :))) I think that compared to other screens in other laptops,
this Vaio's screen for its price is a MEGA steal
. The 15" laptop with same or better screen for same or lower price DOES NOT EXIST.
RE: Sony makes best 15" laptops on the market
8/2/2012 8:31:28 PM
Plus it's also impossible to find such a thin _and_
15" laptop, plus the backlit keyboard, plus the large touchpad, plus the sheet battery that makes it really really long lasting machine if you opt for it.
AND NO STINKING FUCKING _GLOSSY_ _PLASTIC_ CRAP WHATSOEVER!!! NOT A SINGLE FUCKING MOLECULE OF IT!!!
All in all, taken all features/specs together, nothing beats this Vaio SE for its price. Even remotely.
"A lot of people pay zero for the cellphone ... That's what it's worth." -- Apple Chief Operating Officer Timothy Cook
Sony Reports Record $5.7 Billion USD Annual Loss
May 12, 2012, 7:33 PM
German Court Upholds Apple iCloud, MobileMe Ban
April 13, 2012, 2:31 PM
Sony to Cut 6 Percent of Its Global Workforce
April 9, 2012, 10:38 AM
New Sony CEO to Take Over Struggling TV Unit, Make Other Management Changes
March 27, 2012, 10:08 AM
Sony Announces Kazuo Hirai as New CEO
February 1, 2012, 4:50 AM
No Free Play Day for You! Microsoft Says Apparent Promotion was an Error
August 22, 2014, 2:50 PM
BlackBerry Passport to Feature Snapdragon 800 Processor, 3,450 mAh Battery
August 22, 2014, 2:05 PM
Moto X+1 Press Renders Leak, New Images Show Schematics for 4.7", 5.5" iPhone 6
August 22, 2014, 9:52 AM
BlackBerry’s Latest "Plug" for its Passport Smartphone: Displaying Sharp X-rays for Doctors
August 21, 2014, 4:49 PM
Sprint Introduces $60 Unlimited Plan, Touts $20/Month Costs Savings Versus T-Mobile
August 21, 2014, 2:05 PM
Opera Becomes Official Browser of Microsoft-Nokia's Non-Windows Phones
August 21, 2014, 1:01 PM
Most Popular Articles
Lumia 830 Gets Major Upgrades Including New 20.1 Megapixel Toshiba Sensor
August 15, 2014, 6:00 PM
Windows Phone, BlackBerry Smartphone Market Share Falls to 2.5%, 0.5% Respectively
August 15, 2014, 9:44 AM
GM Concedes That the Cadillac ELR Doesn’t Really Compete with the Tesla Model S
August 15, 2014, 5:42 PM
Report: Windows 9 “Threshold” Tech Preview Coming Next Month
August 15, 2014, 11:29 AM
Apple Scores Patents, Preps New Reversible USB Plug for iPhone 6 Connector
August 18, 2014, 1:32 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information