[PS3] Sony’s market valuation nearly six times lower than in 2000

[Chrispy]

Sony’s market valuation nearly six times lower than in 2000

Poor TV Sales Send Sony’s Stock to 31-Year Low

Due to “forecasting earnings that missed estimates because of a failure to end losses from TVs,” Sony’s stock has plummeted precipitously according to a report from Bloomberg. Sony’s “market value” is now lower than it’s ever been since the summer of 1980.

The current market value of the company is $17.5 billion. The company’s market value in the year 2000 was more than $100 billion. Sony’s stock dropped 6.4 percent after its fiscal year 2011 financials came out. Sony’s “stock declined 18 percent this year, extending the 53 percent drop last year,” Bloomberg notes.

Sony’s market struggles are almost entirely due to its ailing television division, with “investors remain[ing] skeptical about predictions for returning to profit this year.” Sony expects its television sales to continue its downward trend another 11 percent in 2012.

However, Sony does expect to post an overall profit this fiscal year “after four consecutive years of losses.” Predicted profits are in the range of $37 million.

Bloomberg also confirms earlier reports out of Japan that Sony intends on laying off six percent of its worldwide workforce, amounting to 10,000 people.

http://www.ign.com/articles/2012/05...+twitter&utm_source=twitter&utm_medium=social

 

[Twigg4075]

I saw an article like that weeks ago. Is this new?

I know a recent article, actually games related, said that Nintendo lost something like 600+ million in 2011. That is unheard of.

This economy is no joke. I'm so glad that I have a job that is basically immune to economy issues.

 

[MrBill]

This economy is no joke. I'm so glad that I have a job that is basically immune to economy issues.

Not only the economy but Sony is also losing big to companies like Samsung that I feel are making better TV's at this time. That is a huge statement coming from me since as recently as last year I would pretty much default to Sony on any electronics purchase right down to a clock radio.

On your job, I think it actually gets more secure the worse the economy gets. People starting committing crimes to feed their families or just basic wants/needs. Alcohol and tobacco sales also tend to go up as the economy goes down. Interesting how that works.

 

[KINGOFOOTBALL]

I guess you can blame the economy I wont discount it....but then why is a "luxury" electronics company like Apple making hand over fist ? Why will they make oodles of money off overpriced tvs ? Why are Samsung profits up up up every year ?

You either need to innovate or give the perception that you are. TVs sales have been dead because the idiots fucked themselves with 3D. They push, push, push 3D yet theres no content , you have to buy glasses separately for upwards of 300$ a pair , and theres a kabillion models to choose from confusing the shit out of every already dumbass consumer. ON TOP of the fact Vizio changed the game years ago and Sony insisted they can keep having highest price tags in a store because of there name.

Nintendo and Apple have proven how dumb and willing to hand over cash for simplified fluff people are. Sony failed on every level to capitalize on there already huge leads in every category.

TVs , Phones , Consoles , Portable music. Theres ZERO reason they shouldnt be killing others in these markets. But Samsung and Apple have assraped them on 3 of those fronts and MS/Nintendo bruised them on the other.

Seriously if you've followed Sonys decisions the last decade or so its comical how bad they are.
Atrac .UMD . PS3 pricing . 3D push. Xperia phones
Its a pamphlet of how to fuck up a business with arrogant and shitty decisions.

 

[padman59]

Obligatory:

does this mean the ps3 fanboys will admit they lost?

:gooby:

 

[StealthShot]

You can now see why Sony is so hesitant to say anything on their next console.

 

[NAHSTE]

Obligatory:



:gooby:

Right, since Sony losing money on television sales is totally indicative of who won the "console wars" ...

 

[padman59]

Right, since Sony losing money on television sales is totally indicative of who won the "console wars" ...

 

[NAHSTE]

Just realized you were clowning on Maynard. Carry on.

 

[leaffan]

Honestly I'm surprised we haven't seen samsung attempt to jump into the console market.

 

[dave]

I saw an article like that weeks ago. Is this new?

I know a recent article, actually games related, said that Nintendo lost something like 600+ million in 2011. That is unheard of.

This economy is no joke. I'm so glad that I have a job that is basically immune to economy issues.

One of our reporters took a job as a cop about three years ago. Thought the same way you do.

I really didn't appreciate him shining his bright light on my front window as a joke at 2 a.m. on Saturday morning. LOL

 

[leaffan]

I saw an article like that weeks ago. Is this new?

I know a recent article, actually games related, said that Nintendo lost something like 600+ million in 2011. That is unheard of.

This economy is no joke. I'm so glad that I have a job that is basically immune to economy issues.

Our police force here in town layed off like 10 cops last year because of cut backs lol.

 

[KINGOFOOTBALL]

You're in Canada......they have free healthcare and no guns. You don't need 5-0 to investigate a drive by slingshotting.

 

[Maynard]

Just realized you were clowning on Maynard. Carry on.

wow your quick....but not quick enough

 

does this mean the ps3 fanboys will admit they lost?

 

[Maynard]

Our police force here in town layed off like 10 cops last year because of cut backs lol.

twigg only understands economics from what he heard on the latest podcast. apparently he has never heard of police cutbacks

 

[Maynard]

Double post awesomeness.

 

[IamMedellin]

Our police force here in town layed off like 10 cops last year because of cut backs lol.

New Jersey cut 4,000 Cops last year, RI cut about 100, Jacksonville cut 50

 

[Twigg4075]

Our police force here in town layed off like 10 cops last year because of cut backs lol.

That does happen in other parts of the country but it's never happened with our department.

twigg only understands economics from what he heard on the latest podcast. apparently he has never heard of police cutbacks

Yes I have dumbass. Part of contract between the F.O.P. (Fraternal Order of Police) and our agency is that we can never be laid off for any reason. The only thing our department can do is put on a hiring freeze if things get really tight. They can also forced furlough days on us, which is unpaid leave days. But so far we are the only agency in Maryland (I believe) that has not been forced to take any furlough days because our F.O.P. is so strong. We are actually renewing our contact for a few more years and part of the contract is that we can't get any furlough days either. Trust me, I will never lose my job unless I make some collossal mistake.

So get back to not having a clue wtf you're talking about and complaining about everything. And, oh yeah, your super witty "So are the Sony fanboys going to admit they lost now?" posts.

 

[IamMedellin]

Trust me, I will never lose my job unless I make some collossal mistake.

Yup....A COLOSSAL Mistake...

 

 

Remember....No Witnesses...

 

[Twigg4075]

LOL, exactly. I don't plan on robbing an Armenian money train any time soon. :shifty: