Sony Forecasts Miss Estimates, Fuel Concern Over Europe Demand Sony Corp. forecast profit that missed analysts’ estimates, fueling concern the debt crisis in Europe may delay a recovery in demand for televisions, cameras and personal computers.
Net income will probably total 50 billion yen ($535 million) in the 12 months ending March 2011, The Tokyo-based maker of Bravia televisions said today. That’s less than half the average of 19 analyst estimates compiled by Bloomberg. The company predicted revenue will rise 5.4 percent.
Sony, forecasting its first annual profit in three years, said it may suffer a “significant impact” if the Greek crisis spreads. Weaker spending in Europe, which accounts for about 25 percent of Sony’s sales, may undercut Chief Executive Officer Howard Stringer’s efforts to revive profitability by cutting 20,000 jobs and shutting 11 factories.
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The loss at the Networked Products and Services Group may narrow, helped by demand for electronic readers, Vaio computers and PlayStation3 games consoles, Sony said.
The company stopped losing money from PS3 consoles in March and will likely post an annual profit of at least 1 billion yen this year from PS3, compared with a loss of about 50 billion yen in the year ended March 31, Oneda said.
Personal computer sales will probably rise to 8.8 million from 6.8 million, Sony said. The company projects sales of 15 million PS3s compared with 13 million sold a year earlier.
I don't know if you all were aware of this, but Sony FY2009 info just came out and it looks like
LTD sales:
PS3 35.7 m ( 360 40.2m Wii 70.9m)
PSP 63.2 m
PS2 146.8 m
FY 2010 forecast
PS3 15m
PSP 8m
PS2 6m
Sony Corporation (Millions of U.S. dollars)
-FY 2009:Sales and Operating Revenue $77,570
-FY 2009:Operating Income $342
-FY 2009:Net Income (loss) $(439)
Networked Products & Services (GAME) (Millions of U.S. dollars)
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FY 2009: Operating Income (loss) $(893)and going by that article, PS3 has lost 50billion Yen last year and only looks to profit about 1 billion yen this year...
They are expecting to sell more PS3 this FY and only recover 1/50th of what they lost this year?
DOing some rough math in my head makes it seem like even though Sony stopped taking a loss on the PS3 back in March, they are making lass than $1 profit per PS3 sold at the current price of $299.
Is my math wrong? Did I misunderstand something?
and with the lost of almost $1Billion, doesn't that mean that Sony has finally spent every bit of profit from the last 10 years(PS2 era) on the PS3? Even MS is making money at this point, but they can afford to swallow any Xbox losses. How can Sony keep this up and expect to leap frog themselves during the next gen?
Topic: Sony getting hit Hard lately (Read 798470 times)
