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

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.