Sony’s worst year ever: reports $5.7B annual loss for 2011 http://stks.co/3lp6
2011 was a dark year for electronics giant Sony: a slew of natural disasters, terrible TV business, and slow sales all around, pushed Sony to its worst annual earnings ever, with a loss of $5.7 billion for 2011.
On the bright side, that was lower than the $6.5 billion loss the company previously predicted (mostly due to a tax hit) — but it’s still the lowest point in the company’s 66-year history. For the fourth quarter ending in March, the company reported its fifth straight quarterly loss of $3.2 billion.
Sony pointed to supplier and factory damage in Japan — a result of last year’s earthquake and tsunami — as a big reason for its poor year. The company was also impacted by the floods in Thailand last year, which affected its production suppliers. http://stks.co/3lp6