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 Sony's first loss in 14 years

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PostSubject: Sony's first loss in 14 years   Sony's first loss in 14 years I_icon_minitimeSat Jan 24, 2009 4:34 pm

One of the world's biggest electronic companies, Sony, is on course for its first annual loss in 14 years. The company blames the global economic downturn and the strength of the yen for a lesser demand for its products.
The Japanese electronic giant Sony has slashed its annual earnings forecast again. It's expected to report an annual operating loss of almost 3 billion dollars. The company had previously forecast a profit of 2 billion dollars. If confirmed, this would be Sony's first loss in 14 years, the second only since the company was listed on the Tokyo stock exchange in 1958. Like other Japanese exporters, Sony is taking a beating from the global slump. The yen's appreciation also means less profit - as the company gets 80 percent of its sales from overseas.
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