AAPL Stock: 110.78 ( + 0.4 )

Printed from

Sony cuts outlook citing restructuring, competition

updated 11:55 am EDT, Fri July 29, 2005

Sony slashes outlook

Sony slashed its full-year profit outlook today by and said it slumped to a first-quarter loss because of falling prices and a big charges for reviving its ailing consumer products business. Sony now expects net income of 10 billion yen, or $89.3 million, for the fiscal year ending March 31, 2006, compared with an April forecast of 80 billion yen, or $714 million. Sales will be 7.25 trillion yen, 3 percent lower than its April outlook, the Tokyo-based company said in a statement. Sony blamed the downgraded outlook on bigger than expected restructuring costs, falling electronics prices, sliding television sales, and falling behind other rivals in hit products like the iPod.

by MacNN Staff





Comments are closed.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Polk Hinge Wireless headphones

Polk, a company well-established in the audio market, recently released a new set of headphones aimed at the lifestyle market. The Hin ...

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...


Most Commented