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01/30/2009 12:27 PM ID: 76661 Permalink   

Sony's Profit Plunges 95%


The Japanese electronics giant Sony saw its net profit plummet 95% during the October-December quarter, falling to $115.6 million from $2.21 billion just a year earlier. Revenue also fell, seeing a 25% drop from $31.64 billion to $23.78 billion.

The hardest hit was Sony's usually dependable electronics division, posting its first-ever operating loss of $175.9 million due to poor sales of TVs, digital cameras, mobile phones and computers. Last year, this division saw $2.22 billion in profit.

Chief Financial Officer Nobuyuki Oneda blamed part of the situation on the "sudden deterioration" of the economy. Analyst David Gibson said that Sony suffered from a glutted inventory and that "TVs really dragged them down during the period."

    WebReporter: vash_the_stampede Show Calling Card      
ASSESS this news: BLOCK this news. Reason:
drop your prices of your ps3
  by: raptorcigs   01/30/2009 12:41 PM     
Not just that, most of their electronics. Sony seemed to have believed that their name deserves a higher price tag for identical technology. Seems the public don't agree :)
  by: Heresy   01/30/2009 12:55 PM     
To be honest i've always believed it was worthwhile paying the little bit extra for Sonys products (tvs and audio equipment)

It's in my experience that they tend to be of a higher standard of quality than most other popular manufacturers.
  by: dook   01/30/2009 01:16 PM     
...and I've always felt the size of the price difference doesn't match the subjective increase in product quality.

Each to his own I guess :)
  by: wildstoo   01/30/2009 02:42 PM     
Sony's products historically have always been reasonably good, especially at the 'high end'. Their current 100MHz flat-screen 1080p screens are outstanding. However, their price tag is so excessive that no-one would really want to buy one.

Price notwithstanding, Sony's products have deteriorated in quality when compared to their previous standards when compared to their competitors. Their products tend to be relatively ugly as well.

Finally, Sony's insistence on having their own formats and connectors for everything is a real killer. People are finally realising that having a device that requires a Sony-shapped connector or memory stick is much more frustrating when you also want to use the same memory cards, etc with other companys' devices.
  by: chiffington   01/30/2009 03:21 PM     
There's two sides to every story though.

If you want to guarentee flawless and desired operation, you can understand why they would want to do it themsevles.

At the same time it can be frustrating for the less-well-off consumer... such as me:)
  by: dook   01/30/2009 03:32 PM     
There are plenty of companies in which have equal quality if not better products for cheaper than sony. So I doubt i'm going to buy a 32" HDTV from Sony for $3000 any time soon.
  by: Anthrox   01/30/2009 04:01 PM     
My opinion is now bias
I've been working in the pro audio and video field for the last 5 or 6 years now and I refuse to buy any consumer electronics to put in my house. I'll only buy pro gear because of the substantial quality increase in amps, for about what you'd pay for a sony receiver.
  by: ludwitr   01/30/2009 06:42 PM     
Its 120Hz refresh rate, not 100MHz.
  by: some1   01/30/2009 11:22 PM     
  Not really suprising  
when you read into some more news about Sony and their dealings with other companies.

So they win the war on Blu-Ray against Toshiba, then sell the factories that make the Blu-Rays and the PS3s TO Toshiba. I bet Toshiba thought this was a win-win situation for them and it would pay off. Unfortunately for them, they are posting a similar losses as Sony as well.

I guess the recession has hit harder and world-wide more than people think.

As for the Sony products, from a personal view, I have not had many good ones. Funny enough though, some re-branded Sony items, eg. Lite-On DVD-RW seem to work for a lot longer than the original Sony brand......strange huh?
  by: Ph33r_This   01/30/2009 11:27 PM     
Well, Sony is losing out in the TV market finally to Vizio - but have you seen them drop their prices to compete?

Hell I went in to buy a Sony and left with a Sharp Aquos. I can't be the only one. It was either a 37" or a 46" Signature for the same damn price.
  by: NicPre     01/31/2009 01:29 AM     
  @ NicPre  
I was in the sony shop today...

I was expecting some kind of price reduction after reading this article but nothing...

they did only have one member of staff working though in a very very busy mall shop...

maybe they're sticking to their guns? haha
  by: dook   01/31/2009 02:35 AM     
  Within the HD TV...  
Market pioneer is king, for a good price very high quality low feature tv it's Panasonic for a good price high quality heaps of features its LG. The only sony products that i have ever purchased have been sony ericsson phones(I love the Walkman phones) and a playstation 1. Lot's and lots of people held on to sony for way to long as being some sort of benchmark of quality when it comes to electronics, Sony knew this so while there products started loosing quality and features compared to competitors Sony was still trying to make a massive premium. I purchased a LG 52inch high def plasma tv last year it cost a bit under $2000, if i wanted a sony one that had comparable features and quality i would be looking at over $3000, when i purchase an electronics product i look at the price, the quality and all available reviews along with what people that have purchased the product have said about it, a name doesn't mean shit to me and from the looks of it im not the only one. When the world is seeing massive economic down turn and the only difference between two products is the price and the name how can a business expect to continue charging excessive amount.

Another example, i bought a 5.1 channel sound system last year it cost me just over $500, one of those all in one systems, it is 1000watt RMS it plays dvds, i can plug my memory stick in it or hard drive and watch movies and listen to music, it has wireless speakers, a microphone to calibrate the speakers it has an ipod dock and does video upscaling, if i wanted comparable features i would be looking at atleast $1200 and i would be lucky if it was 500watt rms.

Point being i like alot of people like having good home entertainment electronics, i will spend a premium if it is worth while but there is nothin worth while about sonys products.
  by: shiftyfarker   01/31/2009 06:06 AM     
  @ shiftyfarker  
You must be kidding - LG are awful. All their products seem to just fall apart for me...
  by: dook   01/31/2009 12:31 PM     
"Sony's products historically have always been reasonably good, especially at the 'high end'. Their current 100MHz flat-screen 1080p screens are outstanding. However, their price tag is so excessive that no-one would really want to buy one."

that and you can get a 240hz (its hz [hertz], not mhz [megahertz] 480hz tv's BIG difference about 1 million times) tv for a lesser price and 480hz tv's for about the same from their cheaper competitors. for $1500-2000 you can the equivelent of a $3000 sony TV...

the only sony product i know that ISN'T a complete rip off is the PS3, and even thats only because its a blu-ray player, i still might buy a PS3 for that reason alone

sony is rip-off and has been for a long, long time. take the sony shockwave from about 10-15 years ago, you could get a even an aluminum armoured JVC discman with 33-50% longer skip protection for nearly atleast 25% less... all because of the name slapped on it.

i'm not a fan of high end brand names at all, most of them are no better than than much cheaper competitors, that goes for everything from clothing to food to electronics.
  by: HAVOC666     02/01/2009 08:24 PM     
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