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Sony net loss $6.4 billion dollar

 

Sony Corp has announced today that they expect to book $6.4 billion a bigger loss than expected  for the Financial year just ended as reported on first Nikkei. Yesterday Sony Corp announced that the 10k jobs cut by the end of this year which is 6% of the total workforce. It appears as 2011 was really a bad year for Sony and it has taken toll on this major consumer electronics from Asia.

Sony CEO who took over last month indicated some painful decision which is clearly the outcome of these major losses.One area where Sony has never been able to capture a large market share is Smartphone. On the other hand constant innovation from competitors like Apple and Samsung has shaken the customer base.

We can see that Sony is in the process of major transformation to tackle competition and bring company on track. In its glory days Sony was known for constant innovation which is lost now.

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