Arab Today, arab today japan\s sony more than doubles net loss
Last Updated : GMT 14:00:30
Arab Today, arab today
Arab Today, arab today

Japan\'s Sony more than doubles net loss

Arab Today, arab today

Arab Today, arab today Japan\'s Sony more than doubles net loss

Tokyo - AFP

Japanese entertainment giant Sony more than doubled its full-year net loss forecast to $2.9 billion, a day after announcing that its president and CEO Howard Stringer would step aside. The firm on Thursday said it was expecting a net loss of 220 billion yen ($2.9 billion) for the year to March, up from 90 billion yen previously, in what will be its fourth consecutive year of losses. Last year the Tokyo-based maker of PlayStation consoles and Bravia televisions lost 259.6 billion yen. Sony also announced a net loss of 201.45 billion yen for the nine months to December, having made a profit of 129.22 billion yen in the corresponding period in 2010. Sony blamed difficult trading conditions and the high yen, among other factors, for a third-quarter net loss of 159.00 billion yen, which reversed a net profit of 72.3 billion yen in the previous year. \"Consolidated sales decreased significantly year-on-year primarily due to the impact of the floods in Thailand, deterioration in market conditions in developed countries, and unfavourable foreign exchange rates,\" it said. Sales in its key consumer products and services division slumped 24.4 percent year-on-year in the third quarter, it said. \"This was primarily due to a decrease in LCD television sales reflecting price declines, mainly resulting from deterioration in market conditions in Japan, Europe and North America, the impact from the floods, and unfavourable exchange rates,\" it said. It pointed out that Japanese LCD television sales in the same quarter in 2010 benefited from a government subsidy that ended in March 2011. Sony also booked a 108.8 billion yen accounting loss from its subsidiaries, which it said was primarily due to losses on its shares in S-LCD, its joint liquid crystal display venture with Korean firm Samsung, and tax asset writedowns at Sony Ericsson. Sony reached an agreement with Samsung in December to extricate itself from the LCD joint venture. On Wednesday the firm announced that Stringer, its Welsh-born American president and CEO and the first foreigner to lead it, would be replaced by a games and music veteran Kazuo Hirai in April. During Stringer\'s tenure Sony has been assailed on multiple fronts, with mobile phones challenging its key games division -- the scene of an embarrassing hacking scandal -- huge losses in televisions, and piracy threatening its music and film assets. For the nine-month period, at the operating level Sony made a loss of 65.86 billion yen against a previous profit of 273.2 billion yen, and saw sales decline 12.6 percent to 4.89 trillion yen. It forecast a full-year operating loss of 95 billion yen, having earlier projected a profit of 20 billion yen, on forecasted sales of 6.4 trillion yen, down from 6.5 trillion yen.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan\s sony more than doubles net loss Arab Today, arab today japan\s sony more than doubles net loss

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday