Sony Forecasts Huge Loss
Sony will soon report its first annual loss in 14 years, one estimated at around $1.65 billion, the company announced Thursday. According to the Wall Street Journal, the loss can be attributed mostly to the economic downturn, as well as competition for LCD TVs and other products.
The Japanese conglomerate forecasted the results for the fiscal year scheduled to end March 31. As a result, the company plans to step up restructuring efforts beyond those previously announced.