Sony posts loss, but has rosy outlook for electronics division
Weighed down by its financial unit, Sony posted a $45 million loss for its fourth quarter earnings Wednesday.
Analysts were expecting an average estimated profit of $260 million for the quarter.
Revenue for Sony's video game unit, which competes head-to-head with Microsoft's Xbox 360 and the Nintendo Wii, grew by 26 percent in the past year based on better sales of the PlayStation 3 console.
Still, the bright point of the company's quarterly report was its electronics business. Revenue was up 9 percent due to increased sales of its digital cameras, video cameras, and notebook PCs.
The TV unit struggled though, and in April the company announced it was replacing its top TV exec. But Sony has higher hopes for this year. It said it plans to sell 17 million flat panel TVs in the next year, an ambitious goal. To do so, it will continue selling entry-level models, a practice it began last summer at Target and Wal-Mart.
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The only reason to by a PS3 is if you want a Blu Ray player - and that is already a dead format. Downloads and memory cards will be the format of choice before Blu ray ever makes mass market.
Sony now have a clearly inferior product with a crippled GPU that simply cant compete with the Xbox 360 in terms of graphics power.
The only reason to by a PSŁ is if you want a Blu Ray player - and that is a dying format.
Sony now have a clearly inferior product with a crippled GPU that simply cant compete with the Xbox 360 in terms of graphics power. And it costs you more.
The only reason to by a PSŁ is if you want a Blu Ray player - and that is a dying format.