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Expected losses for the year end over twice that predicted by the media last week...
As widely reported last week, Sony today revised its results forecast for the year ended March 31st 2009, confirming the company's first operating loss in 14 years.
The expected 260 billion yen (£2.10 billion) loss for the year is considerably larger than the 98.28 billion yen (£792.09 million) deficit predicted by financial analysts and the media last week. The loss is attributed to sliding demand for Sony projects and a stronger yen, which has affected Japan's export industry - and we can't imagine consumer electronics proving too popular amongst Japan's ageing population.
The announcement will hasten Sony's chief executive Howard Stringer's restructuring plans, despite opposition from Sony's old guard against any severe cut backs in the company's native Japan. Sony confirmed that it would double the cost-cutting target to 250 billion yen (£2.01 billion) of savings by the end of March 2010. However leading financial analysts have warned that this will not be enough on its own.
Despite the loss largely being attributed to Sony's electronics division the Game division still appears to be in tumultuous times, with an expected loss of 30 billion yen (£241.78 million) for the fiscal year. Although predicted sales of the PS3 for the year remain at 10 million units, it appears that Sony has reduced its forecast of PSP and PlayStation 2 sales by 1 million each. Software sales are also expected to be down from last year, with combined sales down by 17.4 million units to 250 million.
Sony Computer Entertainment Europe president David Reeves has stated in the past the need for the division to return to profitability during 2009 after successive years of losses, but has maintained that the PS3 model is no longer based around price reductions following lowered manufacturing costs. A report late last year suggested Sony was close to reducing PS3 manufacturing costs to break-even.
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Added:Thu 18th Aug 2011 18:12, Post No: 1167
@ Robert Young: Try Sony and Microsoft's actual financial reports. They are the only reliable source for worldwide console sales/shipments.
Added:Thu 18th Aug 2011 17:45, Post No: 1166
videochartz => vgchartz......LOL....:-)........
Added:Thu 18th Aug 2011 17:44, Post No: 1165
My previous blog of 360 lead over PS3 is not "guess estimate". Those numbers were taken from a reputable website that unfortunately, this website prohibited me from quoting. This website is so reputable that companies use their numbers for their own studies; videochartz......
Added:Thu 18th Aug 2011 17:26, Post No: 1164
Well it is August 2011 now, PS3 fanboys. Where is the lead of PS3 "overtaking" the 360 by January 2011? Yeah, the PS3 sales are inching closer to the 360 but, as of Aug 2011, it is still that - "inching closer". As of August 2011, the worldwide lead of 360 over PS3 is 3.4 million. The U.S. lead of 360 over PS3 is 12.282 million. Also, here in the U.S., as of Dec 2008, the 360 lead was 7.98 mil. As of Dec 2009, the 360 lead was 8.64 mil. As of Dec 2010, the 360 lead was 11.34 mil. And that brings us to Aug. 2011. So, don't predict stuff that will fall flat on your faces, LOL ;-)..........
Added:Mon 01st Aug 2011 20:21, Post No: 1163
@1162, what extra content? do you mean the welcome back pack, with the 5 games, stuff for sony home and various other games and the free month of playstation plus? we've already had it, where was you? lol
Added:Wed 27th Jul 2011 14:44, Post No: 1162
what are sony playing at, wheres all the extra content the promised oh i forgot sony never keep a promise.
Added:Thu 30th Jun 2011 14:03, Post No: 1161
Sony denying the blatantly obvious? Surely not!
Added:Thu 09th Jun 2011 04:47, Post No: 1160
lol i looked back through the comment and post 1154 is a blatent lier, hes just jelous microsoft is better than sony.
Added:Sat 04th Jun 2011 21:13, Post No: 1159
well the welcome back pack finally arrived yesterday and what a mess it was, i guess sony thought it was a good idea to release it in all regions rather than america first moving roung the globe in a way that would not hinder people from getting the free content or causing a lot of confusion when people saw the "get now" link vanish and had to look for guides as to get their free content.
one thing i didnt know about the welcome back pack was the inclusion of 3 FREE full HD movie rentals, if you didnt know about it look on the XMB in the orange box (under account management) and you should find it though i think it expires on the 5th (sunday,tomorrow) so get them while you can.
Added:Tue 31st May 2011 13:38, Post No: 1158
what is sony doing, its may 31st and still no ps store when they said it would be back by the end of the month, well its the end of the month and no ps store, whats the excuse this time ????