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Sony issues profits warning

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Sony issues profits warning

PS3 platform holder slashes earnings forecasts by 57 per cent; falling demand and strengthening Yen blamed

Japanese electronics firm Sony has issued a profit warning ahead of its full year financial reports next March – slashing its profit forecasts by 57 per cent in the process.

The Times Online reports that Sony had previously predicted full year profits of YEN 470 billion, but this has now been cut to YEN 200 billion. A combination of the Yen’s increasing strength and falling demand for Sony products, most notably its LCD TV range, has been blamed.

Some analysts are now predicting future losses for the firm and recommending investors sell any shares they hold in the company.

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sony not surprised

posted by john kewley Oct 23, 2008 at 10:54 am
1
john kewley

Yet more bad times for sony, but im sure many companies are in the same situation.
Maybe thats why that arnt going to fix the PSP 3000 scan line problems they havent the money to fix a flawed product. oh sony u had it so good in the days of the walkman.

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Who is Sony?

posted by Jack Black Oct 23, 2008 at 11:20 am
2
Jack Black

I think Sony need to sort themselves out and I mean seriously, they have lost the MP3 market and are going to lose many other markets soon too, they need to stop putting the blame onto other things and blame only themselves.

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Re: Damn

posted by AH Oct 23, 2008 at 11:57 am
3
AH

Just shows you that being a pioneer of new technology doesn't always = ROI. Minidisc, UMD and Blueray seem to unfortunately be a stab in the back too far. I guess as President Bush wisely said you can't take the high horse and claim the low road.

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Re: Re: Damn

posted by Zildjian Oct 23, 2008 at 12:31 pm
4

@ 2

I agree... The PS3 seems to sum up Sony's situation across all other markets... They're getting things wront and def need to sort themselves out.

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Re: Re: Re: Damn

posted by Reythor Oct 23, 2008 at 12:44 pm
5

Hmmmm. Well, I think Sony should continue to rest on their laurels, delay Home for another few years, continue pushing Blu-Ray (to whoever it is believes shooting lasers at spinning plastic discs has any kind of future), find new and unexpected ways to disappoint their die-hard fans, lose a few more exclusive titles and push on with the PS3s ten year plan.

Awesome.

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Re: Re: Re: Re: Damn

posted by Zildjian Oct 23, 2008 at 12:56 pm
6

I still want a PS3 though... But won't touch one until they drop their price...

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Re: Re: Re: Re: Re: Damn

posted by Weezer Oct 23, 2008 at 12:59 pm
7
Weezer

I suspect you might have a bit of wait in that case, given the context of the news story...

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Re: Re: Re: Re: Re: Re: Damn

posted by Zildjian Oct 23, 2008 at 1:25 pm
8

Yeah, you're probably right... I don't mind though cos buying one will ultimately mean I'll cut down on more important real life activities :|

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PSP 3000

posted by tomoko Oct 23, 2008 at 3:39 pm
9
tomoko

I have a PSP 3000 here in Tokyo and could not even see any lines. It's all overblown. You have to have very extreme, fsat moving scenes or situations to see anything at all. The new screen is brilliant.
Tomo

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Re: PSP 3000

posted by woodins Oct 24, 2008 at 12:47 am
10
woodins

I dunno . . . . does the slash in projected profits take into account a future (and needed) price drop on the PS3 in the near future? For gods sake its what it needs . . . .

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SLASH IN PROFITS

posted by Big M Oct 25, 2008 at 8:36 am
11
Big M

Sony has slashed predicted profits to 200 Billion YEN.....not sure how much that is in £ or $ or € but i bet its still a heavy sum of cash.....and in the current climate im sure any profit is a good thing.

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Re: Re: PSP 3000

posted by J Oct 25, 2008 at 8:38 am
12
J

@10

Even if it does need a price drop, it may not get one - remember - its not profitable. Dropping the price of a PS3, even if it sold like Wii, would still cost Sony a lot of money.

They're kind of snookered. They can't afford to give up on PS3, but they can't afford for it to be successful either.

Also, as a film geek, and an early HD-DVD consumer - I now have a PS3 - I'm not sure they can still say that Blu-Ray "won". What did it win? - HDTV is becoming fairly prevalent and blu-ray still isn't increasing its numbers. I guess most people really couldn't tell the difference...

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Re: Re: Re: PSP 3000

posted by chillisteak Oct 26, 2008 at 4:19 pm
13
chillisteak

the numbers of blu ray are increasing!!!
i see more and more people taking blu-ray in my stores every week.
they may be going slow but thats because anyone into technology is still running round trying to find cheap hd-dvd bargins!

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Re: Re: Re: Re: PSP 3000

posted by sam123 Oct 28, 2008 at 3:49 pm
14

200 Billion Yen = £1.34 Billion. That sounds alright to me, is that correct?

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