Ervin Farkas
January 14th, 2009, 10:26 PM
TOKYO (Reuters) -- Japan's Sony Corp will likely suffer an annual operating loss of about $1.1 billion, its first such loss in 14 years, due to sluggish sales and a stronger yen, a person with knowledge of the matter said.
Shares of Sony tumbled 9%, slicing $2 billion off its market value to $22 billion, while rival Toshiba Corp. dropped more than 8% after Japanese media said it too was headed for a big loss this financial year.
Full article: Sony may post first annual operating loss in 14 years - Jan. 13, 2009 (http://money.cnn.com/2009/01/13/technology/sony.reut/)
Shares of Sony tumbled 9%, slicing $2 billion off its market value to $22 billion, while rival Toshiba Corp. dropped more than 8% after Japanese media said it too was headed for a big loss this financial year.
Full article: Sony may post first annual operating loss in 14 years - Jan. 13, 2009 (http://money.cnn.com/2009/01/13/technology/sony.reut/)