Saturday, January 31, 2009
One of the world’s largest media conglomerates Sony has announced that its net profits have plummeted by 95% in the months of October and December quarter. Sony also stated that its revenue fell too by 25%, from $31.64 billion to $23.78 billion.
Sony’s most popular products: TV, digital cameras, mobile phones, and computers were hit by the crisis with a loss of $175.9 million as sales drop. This is a big difference to Sony’s last year profit of $2.2 billion.
The Chief Financial Officer Nobuyuki Oneda said, "From the second half of September last year, there has been a sudden deterioration in the economy, and with the effects of foreign exchange it has had severe consequences on our business."
Analyst David Gibson stated that its TV’s sales really dragged them down this quarter.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
