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Sony is likely to post a 70.3 billion yen ($658 million) loss for the quarter ending on March 31, the largest loss in two years, compared to the 38.2 billion yen loss of last year. The company will report the exact figures on April 27.
Investors will have to rely on Stringer, the company's first non-Japanese CEO, to pump life back into its earnings growth. Shares of Sony had dropped 2.2 percent since March 7, when it named Stringer the company's first non-Japanese CEO and Ryoji Chubachi as president. The stock was higher than the 5.2 percent decline reported in the Topix Electric Appliances Index, which tracks shares of Sony and 160 other Japanese electronics makers.
Stringer has announced a three year plan, wherein Sony will cut costs, probably resulting in job cuts and falling prices. Sony is also placing a lot of stock into its PSP system, which they believe can turn into the 'next iPod' if it can 'define itself as more than just a video game player.' The company is also making digital copies of its movies and television shows so filmmakers can use them more easily in DVDs, digital cable, and internet downloads.
Whatever the case, Sony has its work ahead of it.
Source: gamesarefun.com
Investors will have to rely on Stringer, the company's first non-Japanese CEO, to pump life back into its earnings growth. Shares of Sony had dropped 2.2 percent since March 7, when it named Stringer the company's first non-Japanese CEO and Ryoji Chubachi as president. The stock was higher than the 5.2 percent decline reported in the Topix Electric Appliances Index, which tracks shares of Sony and 160 other Japanese electronics makers.
Stringer has announced a three year plan, wherein Sony will cut costs, probably resulting in job cuts and falling prices. Sony is also placing a lot of stock into its PSP system, which they believe can turn into the 'next iPod' if it can 'define itself as more than just a video game player.' The company is also making digital copies of its movies and television shows so filmmakers can use them more easily in DVDs, digital cable, and internet downloads.
Whatever the case, Sony has its work ahead of it.
Source: gamesarefun.com