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10
April
2012

Sony expects worse loss ever

Sony has revised its losses for last year, stating that net losses will be “significantly greater” than estimated in February - more than double in fact.
In February, Sony estimated a net loss of 220 billion yen, but now estimates it lost 520 billion yen (4.88 billion euro) last year. The company partly blamed an additional charge of approximately 300 billion yen in tax expenses in the fiscal fourth quarter ending March 30.

The news arrives on the heals of reports that Sony is expected to announce 10,000 job global cuts on Thursday.
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