Not looking good for the cell phone division. I remember when they were the a/v king, then they branched out to camera's, phones, and computers. They got they hand in everything. Mobile division taking a beating from Samsung, HTC, and Apple.
http://yahoonewsdigest-us.tumblr.co...warns-of-2-14b-annual-loss-blames-mobile-unit
Sony expects its annual loss to swell to $2.14 billion and has canceled dividends for the first time in more than half a century after writing down the value of its troubled smartphone business. The company had initially forecast a $466 million net loss by the end of its current fiscal year that ends March 31, 2015. Sony also said it would cut the smartphone unit’s global staff by 15 percent—about 1,000 jobs. But, to stockholders, the biggest news might be the dividend cancellation, a fact not lost on the Japanese company’s leaders.
For more than 50 years we always paid a dividend. The entire management takes this very seriously.
Kazuo Hirai, Sony chief
Sony has been trying to reshape its business after years of red ink and has repeatedly promised turnarounds without delivering. It said the bigger loss for the current fiscal year stems from a lower valuation of its cellphone business due to weaker-than-expected sales.
http://yahoonewsdigest-us.tumblr.co...warns-of-2-14b-annual-loss-blames-mobile-unit
Sony expects its annual loss to swell to $2.14 billion and has canceled dividends for the first time in more than half a century after writing down the value of its troubled smartphone business. The company had initially forecast a $466 million net loss by the end of its current fiscal year that ends March 31, 2015. Sony also said it would cut the smartphone unit’s global staff by 15 percent—about 1,000 jobs. But, to stockholders, the biggest news might be the dividend cancellation, a fact not lost on the Japanese company’s leaders.
For more than 50 years we always paid a dividend. The entire management takes this very seriously.
Kazuo Hirai, Sony chief
Sony has been trying to reshape its business after years of red ink and has repeatedly promised turnarounds without delivering. It said the bigger loss for the current fiscal year stems from a lower valuation of its cellphone business due to weaker-than-expected sales.
Time to trim the fat
