Sony Loses $350 Million in Second Quarter

Posted Thu Nov 3, 2011 at 07:00 AM PDT by Dick Ward

The company is set for yet another losing year, but they're hoping for better reports soon, thanks to some new initiatives.

Imagine what you'd do with a million bucks. Now $350 million. Now picture how you'd feel if you lost $350 million. That's how much money Sony lost in the second quarter of 2011 and they're expecting a loss of around $1.2 billion for the year.

Sony's been faltering for a while and it's not just the TV business that's bringing the company down. There are a few profitable areas, but nothing that's enough to bring the company out of the red.

Sony has a couple of plans to bring itself back, including buying the part of Sony Ericsson that's owned by Ericsson and restructuring the whole TV division.

Source: Engadget

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Tags: Sony Ericsson, Profit Reports, Sony (all tags)