Sony hit by $1bn annual losses

MCV Staff 14th May 2009 Publishing

PlayStation platform holder Sony has reported losses of $1.04bn for the year ending March 31st – a stark dip compared to the $3.7bn profit seen in the same period in 2008.

It is the company’s first annual loss of 14 years, though it’s not as bad as the previously predicted $1.6bn loss. As a result Sony now expects an operating loss of $1.2bn for its year ending March 2010.

The tough global economy was named as the main reason for the results, with worldwide sales dropping by 12.9 per cent. Sony is already in the process of cutting 16,000 jobs globally, and has now confirmed the closure of a further five manufacturing plants – with its LCD TV operations expecting to take the biggest hit.

Sony’s shares have fallen 6.8 per cent on the back of the news.

Tags

About MCV Staff

Check Also

470 Pacific [Industry news] Pacific Standard Creative Launches as New Division of Pacific Standard Sound, Merging World-Class Film, Television, and Video Game Capabilities

[Industry news] Pacific Standard Creative Launches as New Division of Pacific Standard Sound, Merging World-Class Film, Television, and Video Game Capabilities

Pacific Standard Sound (PSS), the award-winning sound design and full service post production and sound company whose work spans some of entertainment's most iconic properties, today announced the launch of Pacific Standard Creative (PSC), a new division purpose-built to serve the evolving storytelling and production needs of video game development studios, advertising agencies, trailer houses, and independent productions who demand world-class sound without compromise. Pacific Standard Creative will be helmed by industry veteran Eric Marks, who brings more than a decade of audio and engineering leadership, as well as two years as the Vice President of the Motion Picture Sound Editors (MPSE).

© Copyright 2026, MCV. BizMedia