Sony shares hit three year low

Following Sony’s decision to recall 438,000 of its Vaio laptop PCs, the company’s share price has fallen by over four per cent to reach its lowest in nearly three years.

Reuters reports that the laptop recall was initiated after a number of reported problems involving the device’s battery overheating. It’s not the first time Sony has been embroiled in battery controversies – Dell and Apple, as well as a number of other companies, have previously recalled some of their products following overheating concerns involving Sony batteries.

Japanese trade minister Toshihiro Nikai was critical of Sony over the amount of time it has taken to respond to the battery concerns – the first reports of overheating emerged a year ago. Nikai stated: It is not appropriate, considering how big the issue is.”

And of the possible effect the move could have on Sony’s brand. Ichiyoshi Investment Management’s Mitsushige Akino added: If these things pile up and reveal that Sony’s structurally weak, then its brand value will definitely be hurt.”

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