Sony forecasts a record $6.4 billion loss

Sony forecasts a record $6.4 billion loss
Sony has forecasted a massive $6.4 billion annual net loss, well above their previous forecast of $3 billion.

The company will have to write off deferred tax credits leading to the loss, which is Sony's fourth in a row.



For the fiscal year ended March 2013, the company says it intends to have a profit of $2.2 billion, a number investors should surely appreciate.

Another Japanese-based titan, Sharp, posted a similar loss for the year this week, $4.67 billion.

New CEO Kaz Hirai has stated publicly that he is willing to take "painful steps" to return the company to profitability and has already announced 10,000 job cuts. The bane of the company is its TV business, which has lost $10 billion alone in the last decade.

Sony will reveal the full results on May 21st.

Written by: Andre Yoskowitz @ 10 Apr 2012 12:48
Tags
Sony Earnings Hirai
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  • 11 comments
  • jrp696

    Good.

    10.4.2012 12:52 #1

  • KillerBug

    Hahahahaha!!! Maybe if they didn't declare war on their customers and try to prevent their products from being useful they would do better...or at least people might feel sorry for them when they do poorly.

    10.4.2012 13:55 #2

  • LordRuss

    Well, they only get one more year of this charade & they'll be forced to declare a profit... even if it is only .01 cent for 2014. This is just a corporate BS game they all play. GE got away with paying absolutely no taxes last year whatsoever. Sure like to know how a multi-gazillion dollar corporation pulled that one off. [Within reason guys, I'm not 'that' interested. I'm sure it had to do with greased palms & legal innuendo/double speak...]

    I'm with KB... had Crony been more diligent in making good in their product, their warranty & after the sale product line they probably wouldn't have to advertise such a grand ass spanking in the fortune 100 arena.

    http://onlyinrussellsworld.blogspot.com

    10.4.2012 15:46 #3

  • brockie

    the usual childish crowd. the TV biz needs to go 4 years no profits.

    10.4.2012 15:55 #4

  • GryphB

    I'm more than ok with this news.

    10.4.2012 18:13 #5

  • nonoitall

    They'll just pass the loss on to their sucke... er... customers and employees. I'm confident the execs won't miss out on their monthly yacht purchases.

    10.4.2012 19:26 #6

  • B2D327

    10,000 job cuts

    get ready to read about mass suicides in japan

    your conscience doesnt absolve your guilt

    11.4.2012 00:42 #7

  • dp70

    This could not have happened to a more deserving buncha' wankers.
    They used to build good electronics.

    When Sony blew-off the wholesale channel and went factory direct, cutting out the distributors...and raised prices- they ceased to exist.

    11.4.2012 03:28 #8

  • GryphB

    Originally posted by B2D327: 10,000 job cuts

    get ready to read about mass suicides in japan
    Not likely. They keep this stuff to themselves as it is acceptable in their culture. If it wasn't, they'd be like China(over populated) only on a much smaller scale.

    11.4.2012 19:15 #9

  • AcceberA

    Its really sad to hear that. Eventhough Sony has been one of the most significant companies in consumer electronics, the company has been posting huge losses for the past 4 years running. The company is restructuring and will fire 10,000 employees. I hope they will overcome this problem concerning all the employees and their families.

    12.4.2012 00:59 #10

  • salsa36

    As I said Hirai is the one that gotta go!!!!
    Apple soon will eliminate any foreign competition with the Ipanel.

    14.4.2012 08:27 #11

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