Tuesday, December 13, 2011

Who knew Sony is in such sad shape after years of so-called turn around mode...

Ok, the strongest yen since WWII is also helping to kill Sony and then throw in that earthquake and the Thai floods all contributed to 
crippling factory productions.

Sony, worth $100 billion in September 2000, is now valued at $18 billion, compared with Cupertino, California-based Apple at $364 billion and Samsung at $137 billion. Last month, Sony predicted 90 billion yen in losses in the year ending in March, reversing an earlier forecast for a profit of 60 billion yen. 

Sony’s TV business has lost an incredible 480 billion yen in the past seven years and is forecast to lose another 175 billion yen in the year ending in March. Sony is the world’s No. 3 TV maker, trailing Samsung and LG Electronics Inc., based in Seoul.

Sony's Bravia TVs division lowered its annual sales projection to 20 million sets from 22 million and said it was taking a 50 billion-yen charge for streamlining the TV operation.

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