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Sony Turns Red With Many International Trade Difficulties In Import And Exports
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Confronted with the consequences of the tsunami, the strong yen and increasing competition, Sony has turned red in the first quarter of its fiscal year 2011-2012 with a loss of 15.5 billion yen (135 million euros). Its gains decreased of 25% while its goal was a net profit over the full year to 60 billion yen.The turnover in the first quarter was reduced by 10% to 1.495 billion yen (13 billion euros) while operating profit dropped by 60% to 27.5 billion yen (239 million euros). It is right to mention that the difficulties of the Japanede giant have been numereous.
The Group was forced to suspend the activity of approximately 10 factories in Japan which were damaged by the earthquake and tsunami and devastated the North-East side of the archipelago. This resulted in disruptions in components that have slowed the fabrication and sales.".
Furthermore, the attacks from hackers against several of its online services with the theft of personal data of hundreds of millions of customers, Its platforms were closed for several weeks.
Also their LCD TV system is declining. which brings toughest challenges in the field of liquid crystal (LCD) televisions, an area where competition drives down prices and prevents the profitability.
Finally, on game consoles, Sony recorded a sales increase of the PSP to 1.8 million units in April-June 2011 against 1.2 million a year earlier, but a drop of PS2 (1.2 million, or 200,000 less than in 2010), and especially the PS3 sales decrease of 25% with only 1.8 million copies sold in the quarter.
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