Bloomberg: Sony Readies for Record Losses
Posted by XanTium | 15-5-2007 11:37 EST
Sony could post its biggest quarterly loss in four years because of lagging PlayStation 3 sales and high launch costs, according to a report today on financial site Bloomberg.
A median estimate of 11 analysts surveyed indicates the fiscal fourth quarter net loss at Tokyo-based Sony may have widened to 75.8 billion yen ($630 million) from 66.5 billion yen a year ago. The analysts suggested that sales for the quarter were up around 9.5 percent to more than 2 trillion yen.
Five of the 11 analysts polled said that the games division may post a quarterly loss of 121 billion yen "and a record 245 billion yen deficit for the fiscal year." The games division is Sony's second largest revenue-wise after the consumer electronics division, which creates the successful Bravia televisions.
Full Story: next-gen.biz