Sony’s $2.8 Billion Loss
Sony announced that is will have a full year loss of $2.8 billion. The annual red ink has become common for the Japanese company. It sets the table for new CEO Kazuo Hirai, who promised to turnaround the company as…
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Sony announced that is will have a full year loss of $2.8 billion. The annual red ink has become common for the Japanese company. It sets the table for new CEO Kazuo Hirai, who promised to turnaround the company as fast as possible. That is exactly what his predecessor Howard Stringer said when he got the job.
Sony cannot easily escape the fact that it does not have one successful consumer electronics product, except the PS3. Its TV business is part of a sector that produces commodities products which have tiny margins. It Sony Ericsson handset unit runs well behind Apple, RIM, Nokia, Samsung, Motorola, and an army of Google Android powered devices.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.