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digitaljournal.com: Sony profits crash after PC and PS3 troubles
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digitaljournal.com
Sony has revealed that the recall of 9.6 million PC batteries on top of PS3 delay have caused a huge 93 percent fall in profits. This isn't any surprise. Sony's recent troubles have begun to badly erode their bottom line. The company has cut its annual profit forecast by 39 per cent in its latest trading statement for the three months ended September 30th. A statemant by Sony didn't make the future look any brighter,“A decrease in sales and an increase in operating loss are expected within the game segment as a result of the reduction of the retail price of PlayStation 3 hardware in Japan and the fact that sales and profitability from the PSP business are expected to be lower than originally forecast.”
Get rid of that Sony stock while it's still worth more than the paper.
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