Yesterday Sony announced its financials for the year ending in March, and for the first time in 14 years, it made a loss. But what a loss! It’s a round $1 billion.
That’s bad enough, but the company has said it expects to lose even more in the coming year.
Sony blamed reduced demand for electronics goods and a strong yen for sales slumping by 12.9%. The losses were $1.05 billion, which was actually less than initially forecast, thanks to a change in Japanese tax laws and no real decline in TV prices. Sales were down in every area, with only the Bravia LCD TVs showing an increase.
