Sony Could Post $1.1 Billion Loss for 2008

January 13, 2009 1:40 PM

Reuters is reporting that Sony's yearly losses may mount to $1.1 billion by the time its 2008 fiscal year ends in March.

If proven true, the loss would be the first in 14 years of operation for Sony.

Sony had already begun to brace for the impact of the economic recession in December, announcing plans to slash its workforce by 16,000.

Reuters speculates that the electronic giant will need to adopt more drastic tactics if it posts a loss of that magnitude, including the firing of additional full-time workers and the sale of its financial unit.

Nick Breckon

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Sony

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Defacil

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January 13, 2009 1:47 PM

I hope this has no effect on the PS3 (besides maybe a price drop) because like or hate the ps3, we need it in the market.
- mittense
  
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  January 13, 2009 1:53 PM
  
  I believe Sony Computer Entertainment of America was one of the few divisions that posted a profit (but I may be wrong).
  - [deleted] 1338166980
    
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    January 13, 2009 2:42 PM
    
    [deleted]
    - AgentPothead
      
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      January 13, 2009 3:47 PM
      
      Where the hell are they getting those numbers from? I cannot find any other source that says Sony sold more PS3 than ms sold xbox360 in q4 of 2008. Hell, the only other information I can find involving numbers says that MS sold almost double the PS3 in Q4 of 2008.
      - dedgecko
        
         reply
        January 13, 2009 4:28 PM
        
        old article - looks like it's discussing q2 or q3, not q4. The 360's price drop destroyed the ps3 in hardware...