Sony Sees Record $6.4 Billion Loss

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Remember that $3B loss Sony announced the other day? Whoops, they actually meant to say $6.4 billion. Kazuo Hirai has his work cut out for him.

Japan's Sony Corp flagged a record $6.4 billion annual net loss, double an earlier forecast and a fourth straight year of red ink, as it writes off deferred tax credits, heaping more pressure on its new CEO to turn around the electronics giant. Sony, which plans to axe 10,000 jobs - around 6 percent of its global workforce - according to media reports this week, has been hammered by weak demand for its televisions and overtaken by more innovative gadget rivals such as Apple Inc and Samsung Electronics.
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So winning the HD-DVD / Blu-Ray war did nothing for them? Well they sure made a big deal out of it didn't they
 
I believe most of the losses were due to the failure of Sony TV and TVs which kerplunked. Sony really needs to address the hammering its image has taken over the course of the last 10 years or so.
 
pelo said:
Sony really needs to address the hammering its image has taken over the course of the last 10 years or so.
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Yep. Sony used to be one of the most trusted names when I was growing up. Now, I can't stand them.
 
Monkey God said:
Yep. Sony used to be one of the most trusted names when I was growing up. Now, I can't stand them.
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You'd see their walkman and discmans EVERYWHERE. You don't even see their TVs or stereos that often anymore. Sony doesn't have any products that even interests me.
 
pelo said:
I believe most of the losses were due to the failure of Sony TV and TVs which kerplunked. Sony really needs to address the hammering its image has taken over the course of the last 10 years or so.
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For a while I was under the mindset of, "Wow, they didn't get hacked this week?"
 
Metrocall said:
For a while I was under the mindset of, "Wow, they didn't get hacked this week?"
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Haha. Sony news = Ruhroh Shaggy.

It's sad that a lot of people share that first instinct, "Sony hacked again?", rather than associating them with quality electronics. They used to be much like Apple in that their electronics always had a Sony tax. Now, though, the quality is nothing special (if it ever was) and consumers aren't falling for the same shenanigans. If you browse the prices of their units you'll realize that Sony has played dumb the entire time and kept their prices artificially inflated because they seem to be the only ones on the planet who still believe their products still warrant that Sony tax. Instead of competing they priced themselves out by pure arrogance and now they're taking a shellacking.

Nobody cares if it's Sony or LG or Panasonic anymore. What they care about is price and quality and Sony loses in both regards.
 
But the question is are the top tier execs going to lose money?
Are they going to take a pay cut?
Are they going to be laid off?
Not likely they are too big and fat to fail..
They'll just cut the low person on the poles job.
 
http://www.gsmarena.com/10000_to_lose_their_jobs_at_sony_no_bonuses_for_execs_either-news-4074.php

According to the report, 5,000 of the job cuts will be a result of reorganizing Sony's chemicals and panels businesses. The announcement of the painful step, as Sony's CEO Kazuo Hirai describes it, will be made on April 12.
He is also believed to reveal that senior executives won't be getting bonuses at all, after the company's reported loss for last year reached $3.2 billion
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I don't trust any Sony products nor will I support that company. I hate to say i'm glad the company is failing because of the innocent people losing their jobs..... but I'm glad they (Sony) are suffering. Sony was the entertainment iron fist and I'm glad it's finally coming back at 'em. Last Sony product I bought was the 1st day release of the PS2.
 
So what they do is raise the prices on their TVs and put minimum pricing rules in place. That will really help move product! LOL
 
Sony has a huge image problem to overcome. People use to buy Sony products because they were " higher quality" and "innovative". Now we only see Sony as "overpriced", "out of touch" and "arrogant".
 
/usr/home said:
You'd see their walkman and discmans EVERYWHERE. You don't even see their TVs or stereos that often anymore. Sony doesn't have any products that even interests me.
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I dunno. When I go to Sears or something and see a Sony television, they're always so gorgeous compared to most other models at the stores. Trouble is they cost too fucking much.
 
k1pp3r said:
So winning the HD-DVD / Blu-Ray war did nothing for them? Well they sure made a big deal out of it didn't they
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Monkey God said:
Yep. Sony used to be one of the most trusted names when I was growing up. Now, I can't stand them.
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I never trusted them. Their only gadgets that were go to were the run of the mill ones likd CD players and walkmans...Minidisc, memorystick...you name it they killed their own formats and their own revenues with restrictions and licensing.
 
That's because Sony can't compete with Chinese products. As a result of Sony and many other companies manufacturing in China, new Chinese companies popped up with lower prices. Sony's brand name isn't doing them any good anymore.

Essential, Sony screwed themselves over by using the Chinese to manufacture their goods. Karma is a bitch.
 
it's hard to compete these days without manufacturing in china.

I still remember how awesome my sony crt TV was, but god that was 10 years ago.
 
Sony needs to stop screwing with it's customers and start fixing it's own shit. They can't seem to figure this out lately.
 
That 3d tv/monitor they put out for the PS3 was a joke, they promised way more than they could deliver and it bombed so bad they scrapped plans to release a "32 version.
 
Such financial results might IMO force them to abandon consoles, because it takes several years and big success in order for console to start generating profit.

 
let see, remove OtherOS, and piss off their customers, change the PSN TOS to prevent class action lawsuits (unless they mail in a letter to them...) Sony in my opinion has been waging war against thier customers for the past few years, every time I read about Sony's failures I smile.

before you think I'm just a xbox fanboy I have 3 PS3's (2 are running custom firmware) and I backed the Blu-ray format during the format war. Sony turned me who was a huge fan of their products and made my bitter about their entire brand.
 
Sounds like a "loss" that they can carry over for next years record profits and have zero tax liability.

Did Sony pull a Facebook and buy a relatively unknown company (or 7) for a billion a piece?
 
Another old electronics giant on rocky ground.
Sony got it's start making transistor radios in the 50s and from there built a brand that is probably the most recognized in the world. Innovation now a days is more software driven and not proprietary hardware. The life cycle of electronics is as soon as it is mass produced it is near obsolete by a better, cheaper product. Sony has had a very hard time in this kind of market because it is mainly selling it's name, not cutting edge tech.
Nobody beams proudly and says "It's a Sony!" anymore.
 
I was a huge fan of Sony for a long time but their quality has really really gone downhill lately. Their home audio receivers are just awful and their DVD players arent all that great either. Their tv's are still pretty solid and usually my first choice but their car audio is just laughable. They used to be the top name for quality gear in everything they made, like Corsair is in the PC world. Hopefully they can get back to that but its gonna be a long road because brands like Samsung are making some very good stuff these days and have the size and money to compete on any level,
 
In my mind, Sony's image and brand just isn't associated with top tier quality electronics anymore. There are other brand names I'll trust sooner to make a quality TV, stereo, or other AV component sooner than Sony. Apparently I'm not the only one.
 
Hamish Campbell said:
In my mind, Sony's image and brand just isn't associated with top tier quality electronics anymore. There are other brand names I'll trust sooner to make a quality TV, stereo, or other AV component sooner than Sony. Apparently I'm not the only one.
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Like most consumer electronics the majority of manufacturing has been pushed off on China.
The quality of the products coming from the major players in consumer electronics across the board has suffered.
It really amazes me how feature packed a stereo receiver is now adays and for how little money. But overall the "build quality" is down compared to what it use to be.
It is because most all consumer electronics are considered disposable. That that is a BAD thing.
 
Skripka said:
I never trusted them. Their only gadgets that were go to were the run of the mill ones likd CD players and walkmans...Minidisc, memorystick...you name it they killed their own formats and their own revenues with restrictions and licensing.
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There was also stuff like SACD, which like the Minidisc in 1990 was amazing. However the product did not line up with what the majority of consumers were looking for from music.
 
impossible, how can you loose this much, from selling tv's, radios, electronics, movies, playstation, bond movies....etc...that is bull info. Sony use to always be on top for video/audio electronics. Of course now days there is more competition, too many other companies doing the same thing.
 
zomby said:
impossible, how can you loose this much, from selling tv's, radios, electronics, movies, playstation, bond movies....etc...that is bull info. Sony use to always be on top for video/audio electronics. Of course now days there is more competition, too many other companies doing the same thing.
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Easy.

They built but people didn't come.

There is is a lot of competition in the game now Sony didn't have to contend with years ago.
15 years a go a Samsung TV was considered cheap Junk. A Sharp TV was considered a cheapo too.. Now that stigma is gone plus there are dozens of Chinese brands competing for the consumers dollar that are cheaper.

So at the Wal-Mart bubba Joe and bubba Jane at looking at the flat screens. "Look, the picture on this Magazoo brand TV looks just as good this Sony and it is half the price!"
 
westrock2000 said:
There was also stuff like SACD, which like the Minidisc in 1990 was amazing. However the product did not line up with what the majority of consumers were looking for from music.
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That's because the vast majority of consumers are content with compressed lower bitrate audio on their iPods and crap earbuds than what SACD could deliver. I think I still have Dark Side of the Moon on SACD somewhere. I remember when Best Buy had an SACD section, though it was tiny.
 
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