Rumored Report: Sony May Post $1.1B Fiscal Yr. Loss

[jw]

rumored out of Japan, of course other big electronics manufacturers are facing the same dilemma such a M$, Toshiba and with the lagging economy this is to be expected

Tokyo — Sony may report its first operating loss in 14 years due to slowing sales of consumer electronics, according to anonymous sources in a story published by the Nikkei business newspaper, here.
The Nikkei story, which was picked up by various media sources, said it would report an operating loss of $1.1 billion (around 100 billion yen) when its current fiscal year ends on March 31. Predictably, Sony’s stock slipped almost 9 percent on the Tokyo Stock Exchange on Tuesday.
In December Sony did announce it would cut a total of 16,000 jobs, lower spending and close plants, which would save the same amount of money mentioned in The Nikkei story — $1.1 billion.
Sony, which will issue its fiscal third-quarter results on Jan. 29, had no comment on the story, only saying on its Web site, “Sony understands that a story appeared in the media regarding Sony's expectations on operating results for the fiscal year ending March 31, 2009. Sony has made no announcement in this regard and at this time has no further comment.”

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This story solidifys the loss in market wide and not just any one manufacturer