Sony in the red as losses of 1bn loom

Sony in the red as losses of 1bn loom

Sony will plunge into the red with anticipated annual losses approaching 1bn, the troubled electronics giant announced.

The PlayStation-maker yesterday unveiled a 880m pre-tax loss for the final three months of 2011, a far cry from the 1.1bn profit it turned the previous year.

Sony expects to make a continued loss despite reporting 1.1bn profit last year

Sony expects to make a continued loss despite reporting 1.1bn profit last year

It expects to make an annual pretax loss of 956m, rather than the 83m profit it forecast in November.

New chief executive Kazuo Hirai will take over from long-standing boss Howard Stringer in April.

Related posts:

  1. Government-backed Money Advice Service paid 100,000 to top brass despite job losses
  2. RBS investment bank boss set for 4.3m bonus despite 5,000 jobs losses and 50% fall in share price
  3. Cazenove UK Absolute Target: One of the few absolute return fund winners of 2011
  4. "We have already plunged into the second recession", Item Club warns
  5. Thousands of jobs axed at AstraZenca as chiefs look to save 1bn by 2014