$1 Billion loss for Sony in 2008

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Last year the consumer market saw a loss of demand for electronical products from big name brands such as Sony. Following this, Sony have reported that they lost $1 billion during last year, with the price of the PS3 and strong yen not helping. The PS3, which many consumers deem expensive compared to the Xbox 360 and Nintendo Wii, is actually selling at a loss for the company so any price cuts at the moment seem out of the question. Sony are looking for ways to reduce costs, otherwise 2009 could see them lose even more. So far three plants in Japan have been shut down.

Source: UberGizmo

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