Sony May Post Billion Dollar Loss

According to Reuters, it appears Japan's Sony Corp will likely post a $1.1 billion annual loss. Factors for the large operation loss range from sluggish sales, a stronger yen, and overall global economic struggles.

A representative for Sony Corp, Mami Imada, said that any reports of a loss are clearly speculation. Sony's quarterly report will become available January 29th.

Analysts fear that Sony may be forced to lay off workers to help ease the financial burden, like so many other companies have done over the past few months.

It really is interesting to see the progression of gaming consoles. Systems before went from 8-bit to 16-bit, and so on. Now, it seems like Playstation are Microsoft have put out the best of what's around, graphics wise. I think it would be hard for either of the two companies to release a new console anytime soon. Hopefully the PS3's sales will increase this year, as a rumored April price cut could certainly help to move stock. As for the PSP? It might just continue dying its slow death.

Source: Reuters