Thursday, January 15, 2009

Sony to Post Loss

On the day that Waterstones disclosed that it had sold around 30,000 Sony ebook readers and a week after the Bookseller reported that the Sony had sold some 300,000 ereaders in the two years since its launch, Reuters reports that Sony Corp is expected to post an operating loss of around $1.1 billion for 2008/09.

This is the first Sony loss in 14 years, only its second in its history and could be double that stated, depending on inventory in the first quarter 2009. Only last October Sony were forecasting a profit. As the global recession hit demand for its products the giant electronics company announced 16,000 jobs cuts in December, along with further investment cuts that it expected to result in savings of $1.1 billion a year.

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