Sony posts record $1 billion loss for fiscal year 2008
As expected , Sony announced a record ¥98.9 billion ($1 billion) loss for the fiscal year ending in March 2009. This is Sony’s first reported yearly loss in 14 years and a significant change from the ¥369.4 billion profit Sony reported for the fiscal year ending in March 2008. Overall sales dropped 12.9 percent to ¥7.73 trillion during 2008 with US sales plummeting 20 percent, European sales slumping 17 percent and Japanese sales falling 14 percent. A small ray of hope in an otherwise bleak report were sales of…
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