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Sony reports first loss in 14 years

Nibble $1 billion down the loo
Friday, 15 May 2009, 12:33

SONY HAS REPORTED its first annual net loss in 14 years and says that things will only get worse this year.

The Japanese electronics and entertainment conglomerate said it lost $1.72 billion in the first quarter of 2009 giving it a net loss of $1 billion for its fiscal year, according to the AP.

Sony said no quick recovery was in sight and thinks it will lose another $1.2 billion for the fiscal year through March 2010.

The company is in the process of handing out pink slips and P45s to 16,000 workers. µ .

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Comments
Good!

It couldn't happen to a more deserving company.

I wish Sony would just die already.

posted by : Jon M., 15 May 2009 Complain about this comment
sony? shmony...

it comes as no surprise. the execs are all belligerent.

re: the ps3, what sort of company releases a luxury item at a massive price when the world is suffering from increased food prices, increased fuel costs and the banks impose a debt crunch?

where is their business acumen?

posted by : Jonny Ringworm, 15 May 2009 Complain about this comment
Fanboi much?

Comment #2, the PS3 was released in 2006, when the world economy was experiencing the highest growth this decade. That Americans decided to start defaulting on their subprime loans is outside of Sony's control.

Jon M, I feel for you, Sony murdering your mother must have been hard to overcome. I can understand you wanting them to die.

posted by : Tom, 15 May 2009 Complain about this comment
Karma is a bitch.

Well Tom, hate to break it to you, you walk and talk like the average fanboi yourself.
As the inventor and glowing supporter of rootkit, DRMs and the lemon named PS3, they deserve all bad things coming at them. Sony was a likable company up untill they bought CBS and switched sides from a rather consumer-friendly company to the pile of crap they are today.
Wanting them to die is just to easy on them, a slow, painful decline to nothingness would be much more appreciated.

posted by : JTM, 15 May 2009 Complain about this comment
a canine walnut whip

tom - financial institutions and experts the world over were aware of the debt crunch potential even before 2006.

also, why did you refer to Jon M's mother? are you personally offended?

i think you need a trial separation from your sony products - for the sake of your mental health!

posted by : shabba, 15 May 2009 Complain about this comment
They do get it right sometimes...

I do agree Sony has come up with some of the most annoying proprietary crap (MiniDisc, UMD) and don't get me started with Vaio with all it's pre-loaded software junkpile.

But I do own a selection of Sony products because sometimes they do come up with really nice hardware.

I have their DAB radio which was better than the competition by far for build & sound quality. I love my Bravia & Sony HDD recorder, both of which strikes the right balance between functions & price. I also own the PS3 which hasn't really seen much gaming (mostly use to watch video files & BD films) until I got my hands on Demon's Souls, after which it's become a pure gaming machine.

Let's just hope this recession doesn't kill them off entirely, but give them a good kick up the arse and go back to designing products people want to own. Ditching UMD for the PSP2 is a good start...

posted by : Max, 15 May 2009 Complain about this comment
Consumers-R-US

I totally agree with JTM , After the hidden rootkit cr@p Sony installed, and the DRM , I stopped buying anything Sony and am VERY happy to see them suffer for it. Hope they go outta business and other corporation take notice that The Consumer Rules and will not tolerate sneaky corporate BS!

posted by : Consumers-R-US, 15 May 2009 Complain about this comment
At Consumers-R-US

And yet you hail Microsoft...

posted by : Awesome, 15 May 2009 Complain about this comment
fanboys speak!

My last console was an Atari 5200, don't really care about any of them, but wow, anybody who hails defectivebox and calls ps3 a "lemon"....hilarious fanboys...

posted by : bety, 15 May 2009 Complain about this comment
Sony

Jam root kits and DRM down my throat and expect me to buy your products ? Good luck. I haven't bought a Sony product in the last 5 years and have no intention of doing so...my wallet speaks for me when dealing with scumbag companies...

posted by : Ed, 15 May 2009 Complain about this comment
Sony, maker of exploding batteries, and now exploding share holders.

Sony, maker of rootkits.

Sony, seller of overpriced memory sticks that are slower and have less ram than normal memory cards.

Sony, screwer of customers worldwide.

Sony, backer of RIAA.

Sony, not getting my money any time soon.

posted by : interested_party, 16 May 2009 Complain about this comment
Evil

Sony may have made a number of mistakes, such as rootkit and their obsession with proprietary equipment etc. However, aside from the price you generally can't complain about the quality of their hardware. Anyone who thinks Xbox360 and PS3 are on the same level are ignorant. Anyhow, I'm not opening that can of worms. The point remains, Sony is an excellent manufacturer and anyone who says otherwise is painfully cheap or despises all big business.

posted by : Martin, 16 May 2009 Complain about this comment
@Awesome

Where in my post does it say any kind words or support for microsoft ? Try reading what I typed and add nothing to it cause you can't put words into my mouth I've never said ! Awesome Dipstick!

I'VE got lots of posts bashing M$ under other names , DIPSTICK.

posted by : Consuners-R-US, 17 May 2009 Complain about this comment
@bety

So slowbrain, where in my post, or any other post above does anyone hail defectivebox as you call it? Reading to hard for you? I suggest you do a bit of Reading 101 before making more of an ass of yourself. Oh, please take "Awesome" with you, he/she seems to be lacking in the same area as you.
And yeah, PS3 is a lemon. Coming from the unprecedented success of the PS2 and now trailing both the Wii and the defectivebox as you call it, would make it a lemon by anyones standard.
By all means, keep living like the average fanboi. After all, ignorance is bliss.

posted by : JTM, 17 May 2009 Complain about this comment
SNEAKY SONY PAY FOR DRM !!!

And while we're at it, this also serves them right for proprietary HD camera file formats.
Selling people a personal HD camcorder that captures film which CANNOT be edited on the world's most popular packages etc

Sales plummet ? Ha Ha Ha Ha Ha......

posted by : Steve Dowdle, 18 May 2009 Complain about this comment
they'll be back!

As a former Sony person, I’m sorry to see / hear about the less-than-enviable financial status of the company. Clearly, this is a passing phase which we will all be glad to see the end of - in the interim, this is probably as good a time as any to revisit some of the highlights of Sony Design :
http://thinkmoreinc.wordpress.com/2009/05/17/81/

posted by : thinkmore, 18 May 2009 Complain about this comment
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