Sony (NYSE:SNE) expects its holiday sales to be poor. That is terrible news for the consumer electronics and PC industries. Sony is a nearly perfect proxy for those sectors. It sells PCs, video games, TV screens, and digital cameras. Many of Sony’s competitors will have to gird for another harsh holiday selling season, unless the forecast from the big Japanese firm is based on a large drop in market share across most of its businesses.
Sir Howard Stringer, Sony’s CEO, was quoted by Reuters as saying “There hasn’t been that turning point that many had hoped for. We are waiting for a signal that hasn’t arrived.” Read More
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