Sony Profits Plunge

Even with the Playstation 3 becoming a huge success in Asia, that hasn’t stopped the Sony corporation from seeing their profits dive in recent months. Net profits for Sony are down 47.5% (down to 360 million) from this time last year. With the release of this recent information, Sony has adjusted projections for the fiscal year to account for the apparent falling trajectory. Sony attributed the drop in earnings to the global economy crisis and falling market confidence in the electronics sector. The main contributing factor to the decline in profits in revenue is said to be a decline in LCD television, blu-ray players and digital camera sales.

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