The Drum Awards for Marketing - Extended Deadline

-d -h -min -sec

Sony Twitter

Sony records $3.1bn annual loss

Author

By The Drum Team, Editorial

May 26, 2011 | 2 min read

Consumer electronics giant Sony has confirmed it made a $3.1bn annual loss for the fiscal year ending 31 March 2011.

The heavy losses were attributed largely to a write off of $4.4bn in relation to a tax credit booked in the previous quarter.

A strengthening Yen was also blamed for making exports more expensive.

It has been an annus horribilis for the tech firm with the recent Japanese quake throwing the companies supply chain into disarray and a PR disaster after hackers accessed confidential details of subscribers to the PlayStation Network..

Sony has recorded a loss for the past three years but is confident it will return to profit in the current financial year.

Sony Twitter

More from Sony

View all

Trending

Industry insights

View all
Add your own content +