Sony suffers record annual loss

Sony suffers record annual loss

Sony has racked up a record annual loss of 457 billion yen (€4.4bn) in its fourth straight year of red ink.

The maker of the Walkman and PlayStation reported a loss of 255 billion yen (€2.5bn) for the January-March period, its fifth straight quarterly net loss.

Sony has leaked money for eight straight years in its core TV business, battered by competition from Samsung of South Korea and other Asian rivals.

A soaring yen that erodes the overseas earnings of Japanese exporters like Sony has also added to the damage.

Sony is aiming for a turnaround under a new president, Kazuo Hirai, appointed last month, who has headed the electronics and entertainment maker’s gaming division.

More in this Section

Ireland's unemployment rate was more than 26% in MayIreland's unemployment rate was more than 26% in May

Another 20 McDonald's drive-thru restaurants have re-openedAnother 20 McDonald's drive-thru restaurants have re-opened

Budget airline Wizz Air boosts profits prior to virus uncertaintyBudget airline Wizz Air boosts profits prior to virus uncertainty

Figures show extent of Covid-19 impact on Ryanair's passenger numbersFigures show extent of Covid-19 impact on Ryanair's passenger numbers


Lifestyle

Award-winning garden designer Chris Beardshaw share 10 of the best container plants. By Hannah Stephenson.10 of the best plants for pots

A slimmed-down Irish couple has written a bestselling cookery book featuring healthy versions of indulgent meals, says Clodagh Finn.The Daly Dish serves up healthy version of our favourite meals

David Brophy's new choir and a classic Ireland v Holland game feature among today's top tips.Thursday's TV Highlights: David Brophy's new choir and a classic Ireland v Holland game

More From The Irish Examiner