Sony shares drop to 31-year low in Japan, 19-year low in US

[Heisenberg]

Shares of Sony stock have dipped to their lowest number in 31 years in Japan and to a 19-year low in the US, following a dismal earnings report for the previous fiscal year. Sony shares dropped 7 percent in Japan, to 1,135 Yen ($14), and 2 percent in the US, closing at $15.37. Sony CEO Kaz Hirai plans to lose 10,000 employees in a company-wide reorganization effort. Sony reported a net revenue loss of 9.6 percent for fiscal year 2012, dropping from $89 billion to $79.1 billion year-over-year.

Source: Sony shares drop to 31-year low in Japan, 19-year low in US | Joystiq

I'm surprised by this considering how much of a competitor they are and their recently released PS Vita. I haven't got a single Sony product in my house. lol.

 

[Troy]

Surprises me as well, I would have thought that it would have been a highly profitable company even if it wasn't the number one in it's chosen field anymore. There is plenty of money to be made in the video game industry to keep many big companies afloat.

 

[DENPAZ0R]

I don't think this was necessary.
But I am wit you OP, I don't like Sony, the Xbox 360 takes the PS3, and the PSP/Vita is kind of crap.

 

[ljepilo]

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I'm surprised by this considering how much of a competitor they are and their recently released PS Vita. I haven't got a single Sony product in my house. lol.

Well me neither ( at least not at the moment ). I used to own PlayStation's 1st generation of consoles (PS1) like 10 years ago .