The Japanese electronics manufacturer Sony has presented a disaster company that was worse than analysts had predicted.
Sony has produced a disaster accounts for 2013/2014, where the deficit landed at 130 billion yen (6.83 billion dollars), which is significantly larger than analysts had expected, writes Bloomberg.
In February the company downgraded their expectations for the outcome, to a deficit of 110 billion yen (5.78 billion dollars), but the reality was so much worse.
“There is no end to their downward revisions of earnings,” said Mitsushige Akino, Manager for Ichiyoshi investment management co. “they can not find a growth stage, and it will be difficult to regain the lost. Unless they are announcing a sale of their TV-share market will not consider Sony for quality”
Since Sony’s Chief, Kazuo Hirai, took office in 2012, he had a plan to turn the company, by, among other things, to bet on mobiles and tablets, but the process has also meant layoffs, even in their prestigious Hollywood film studio.