Sony Earnings Take a Bit Hit

Posted Feb 3, 2012 at 4:55PM EST by

Listed in: News Tags: Kaz Hirai, ps vita, Sony

Things don’t look too great over at Sony this morning. The company has announced its earnings figures for the last quarter in 2011, and numbers are down, big time. Sony, as a whole, posted a net loss of around $2 billion – a 17.4% drop from the same quarter last year.

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It wasn’t all black clouds over at Sony, however. Sony Consumer Products and Services, a.k.a. the PlayStation wing of the company, lost a little less - $1.09 billion. PS3 sales went up, but not enough to prevent the company from taking a pretty large hit. Unfortunately, sales numbers for the PS Vita were not provided.

Sony listed a few reasons for the revenue tumble, including a difficult market, tough exchange rates and the floods that occurred in Thailand. The company has also recently appointed Kaz Hirai, the man behind the PlayStation brand, as its new CEO, so perhaps investors are hoping he can turn things around.

As usual, it’s important to note that a company posting a loss simply means they made less money during a particular quarter than the same quarter in the previous year. It doesn’t mean that Sony isn’t making a profit – the company is still raking in money hand over fist. All these figures indicate is that Sony could be in for some trouble if they’re unable to reverse the downward tumble.

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Yeah as far as I'm concerned its an easy buy. If I know sony they like to come back with the new wave. Though sales may drop a few proceeding the launch you can still cash out in most cases. Though I'd hate for anyone to be stuck with a part of sony in their pocket so buy wisely.

Many holders are looking to cash out on the bonus of selling so set your bids low.

# RE: Sony Earnings Take a Bit Hit — senz 2012-02-04 09:38

Sony's brand value is declining..

# RE: Sony Earnings Take a Bit Hit — Mike_V 2012-02-04 11:03

Sony's problem is with there products pricing & lack of marketing. If they find balance between them, then this never happened again.

# RE: Sony Earnings Take a Bit Hit — doubleA329 2012-02-05 03:35

Last time I checked, people didn't really want to pay for an overpriced Sony TV. So many cheaper alternatives, with the same, if not, better technology. Same goes for every other product they make (except the playstation brand).

# RE: Sony Earnings Take a Bit Hit — PurpleNurple 2012-02-07 03:18

I believe it's their fight on piracy that's really hemorrhaging money. They're to busy throwing money at this problem instead of using it wisely.

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Sony Earnings Take a Bit Hit

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