Sony Slashes Profit Forecast on Dismal Economic Indicators
Sony drastically lowered profit and sales forecasts for the fiscal year Thursday, blaming deteriorating sales of flat-panel TVs and other gadgets battered by a global slowdown. The latest numbers would mean that Sony’s profit for the fiscal year ending March 2009 are set to plunge 59 percent from the previous year. Tokyo-based Sony now expects a 150 billion yen profit for the year ending March 2009, and it gave the unfavorable currency rate as another big reason for the faltering results.
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Sony Slashes Profit Forecast on Dismal Economic Indicators
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