Sony have released information on their financial report for the last financial year, 2008-2009. In it Sony admit that due to lack of demand for consumer electronics the company lost $1 Billion as consumers turn to less named brands for a cheaper cost in this economical time. Sony will have to cut costs and look at cheaper ways of producing their products, otherwise they could lose even more this financial year. The main culprit behind Sony’s loss is the PS3, which is expensive to buy compared to the Xbox 360 and Wii, expensive to produce and are losing Sony money. So far in a bid to cut costs, three production plants in Japan have already been shut down.

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This entry was posted on Friday, May 15th, 2009 at 1:39 pm and is filed under Competitor, Sony Ericsson.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.