Sony Sees $820 Million Loss
Sony has announced an overall operating loss of $820 million for fiscal year 2012.
The company attributed the loss to “the unfavorable impact of foreign exchange rates, the impact of the Great East Japan Earthquake and the floods in Thailand, and deterioration in market conditions in developed countries.”
Sony had a net revenue of $79.1 billion, down 9.6 percent from the previous year.
The Consumer Products & Services division sales were down 18.5 percent from last year, ending at $38.2 billion. This division includes their gaming devices, TVs, PCs, cameras and more.
The decline in the division was attributed to “lower sales of PlayStation®3 hardware due to a strategic price reduction and lower sales of PlayStation®2 due to platform migration.”
Ouch! That’s a helluva loss right there.