Sony alarms with fresh forecast cut

SONY, the Japanese electronics company, stunned investors yesterday with a dramatic cut to its earnings forecast and its first back-to-back quarterly loss in four years.

The dire figures, the result of tumbling prices for Sony’s core consumer electronics products, echoed the infamous “Sony Shock” of 2003, when the company unveiled its biggest quarterly deficit in more than eight years. Brokers are already dubbing yesterday’s warning the “Second Sony Shock”.

Source: Times

Posted: Sun - July 31, 2005 at 06:31 AM