Sony Is Bleeding Money (Again)

[darren]

whoops

http://kotaku.com/5881530/sony-is-bleeding-money

Today, Sony announced its recent financials, and the Tokyo-based electronics giant is hemorrhaging money.

For the fourth year in a row, Sony is in the red. This March, the company should post an annual loss of US$2.9 billion, Reuters reported. The loss is worse than expected.

The company is battling slow sales and a strong yen, which is pounding the company hard. Last year's earthquake in Japan as well as the flooding in Thailand disrupted production, eating into sales.

This comes as former PlayStation boss Kaz Hirai takes the reins as the company's CEO.

"It won't be easy for Sony to regain its lost ground under new leadership, as its overall competitiveness has sharply weakened," Kim Young-Chan, analyst at Shinhan Investment Corp in Seoul, told Reuters.

"It's got structural problems that will take years to fix. "It's not just Sony but Japanese IT firms have similar problems. They are failing to innovate and produce industry-leading products in almost every major area from TVs to displays, tablets and smartphones."

Sony is keeping its forecasts for LCD televisions, but cut its PS3 sales forecast.

According to analysts, in the past few years, Sony has failed to lead the way with innovation. Hirai will need to establish a strong vision for the company if it is going to become profitable

[Zack]

nobody buys their phones, and most ppl who buy TVs just buy whatever is cheap and big (vizio, insignia, etc ) and don't care about quality.. iirc their gaming division only just started to generate profit in 2011?

[darren]

i'd say samsung are hitting them harder than cheap brands with tvs tbh

[Zack]

idk.. the time of the year tvs sell the most, at least in america, is during black friday when all those shitty brands have deals. samsung is definitely outselling sony though

[darren]

i think sony need to realise they are no longer considered a 'luxary' quality brand like they once were .. and tbh made real good money from that image. i see them as the same quality but over priced .. for the price of a 40" sony led i can get a much bigger panasonic or samsung .. just as good quality if not better and more feature rich .. thats there problem these days.

[KingOfSentinels]

Yeah, it's not Sony itself being bad, their tech is still top-quality stuff, it's just that the other brands have caught up really. I've seen a lot if innovative concepts come from Sony, but they need to actually start pushing these out.

[Zack]

Originally Posted by darren316

i think sony need to realise they are no longer considered a 'luxary' quality brand like they once were .. and tbh made real good money from that image. i see them as the same quality but over priced .. for the price of a 40" sony led i can get a much bigger panasonic or samsung .. just as good quality if not better and more feature rich .. thats there problem these days.

pretty much. samsung tvs are less expensive and either on par or better than sony's

[Northeastmonk]

http://www.northcountrypublicradio.o...ringer-at-sony

Feb 2, 2012 (Morning Edition) — Sony has announced it's getting a new CEO. Welsh-born Howard Stringer, Sony's first non-Japanese leader, will be replaced by Japanese-born Kazuo Hirai. Stringer has long urged the company to have Hirai succeed him. Sony is struggling with falling sales, especially in its TV division, and a rising Yen.

Good radio broadcast on the subject.

[Alucard]

DIE HORRIBLY WITH MY BLESSING!

[Einhander]

Hopefully Kaz will make them profitable again.

[darren]

to busy playing ridggggggggggggggggggggggggggggggggggggggggggge racer

[Alucard]

Originally Posted by darren316

to busy playing ridggggggggggggggggggggggggggggggggggggggggggge racer

[progmetal]

No no no, you're writing it the wrong way every time darren. It's "Riiiiidge Racerrrrr".

[darren]

You know .. Not being able to quote that tunt correctly leaves me in a happy place.

[Northeastmonk]

You reallY shouldn't moch Kaz Harai because its ALL in his hands now.