Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
January 19, 2022
arrowPress Releases
If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Sony Warns Of 59 Percent Profit Decline

Sony Warns Of 59 Percent Profit Decline

October 23, 2008 | By David Jenkins

October 23, 2008 | By David Jenkins
Comments
    2 comments
More: Console/PC



A decline in overall sales and a strengthening yen have caused Sony to issue a profits warning for the current financial year.

The company is now predicting a net profit of ¥150 billion ($1.55bn) for the year ending March, 2009 " down 59 percent on the previous year. The figure is also well below previous estimates of ¥240 billion ($2.47bn).

Operating profits estimates now stand at ¥200 billion ($2.06bn), down from previous forecasts of ¥470 billion ($4.85bn). Revenues are expected to rise by only 1.5 percent, from last year’s figure of ¥9.0 trillion ($92.81bn).

The company attributes the fall largely to the strong yen, which drastically reduces earnings from outside of Japan. Poor sales of televisions, compact cameras and camcorders were also responsible, along with the general global economic slowdown and increased price competition.

Sales in the three months from July to September were particularly problematic, with net profits dropping by 72 percent to ¥21 billion ($217m) and operating profit down 90 percent to ¥11 billion ($112m).

"The economic situation has rapidly deteriorated," quoted an AFP news report of Sony CEO Nobuyuki Oneda, who also described the downturn as "beyond our expectations". Oneda indicated that the company was looking for ways to continue to cut costs and did not rule out further job losses.


Related Jobs

Sucker Punch Productions
Sucker Punch Productions — Bellevue, Washington, United States
[01.18.22]

Senior Environment Artist
Sucker Punch Productions
Sucker Punch Productions — Bellevue, Washington, United States
[01.18.22]

Senior Animator
JDRF
JDRF — San Francisco, California, United States
[01.14.22]

JDRF Game2Give Community Manager
Disbelief
Disbelief — Cambridge, Massachusetts, United States
[01.14.22]

Programmer









Loading Comments

loader image