As if there wasn't enough bad news in the form of profit warnings and unemployment, it looks like it hit Sony extra hard. Today the company
announced their Q3 results, reporting losses of nearly 18 billion yen for the last quarter due to "factors such as the appreciation of the yen, deterioration of results at equity affiliates, slowdown of the global economy and intensified price competition, as well as the decline in the Japanese stock market."
That's a 95 percent drop from the profit recorded a year earlier.
As we heard before, Sony is going to
cut 8,000 of its 185,000 jobs around the world, but it's likely that restructuring will continue as Sony is trying to combine their diverse businesses. Skimming through the IR
presentation material didn't reveal any specific information regarding Sony's e-book business, which I assume is still too insignifcant in terms of revenue. It's also now part of the Sony Electronics devision which is responsible for all of Sony's U.S.-based electronics and entertainment businesses.