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Sony Corporation Message Board

  • fastmoneyof_2011 fastmoneyof_2011 May 11, 2012 2:15 AM Flag

    Sony, Panasonic shares plunge to 30-year lows

    Sony, along with Panasonic and Sharp, has been fighting a losing battle for years against fierce competition offered from the likes of South Korea's Samsung and US-based Apple.

    Analysts have called on Sony to drastically overhaul its business, including possibly leaving the TV business all together.

    Last month, Sony said it would cut about 10,000 jobs and spend nearly $1 billion on an overhaul that its new chief executive Kazuo Hirai described as "urgent".

    "On the whole, (Sony) remains at risk of ongoing losses in its cellular application and TV businesses, and we continue to see little prospect of a rise in valuations for the time being," Credit Suisse analysts Yuan Tian and Shunsuke Tsuchiya said in a client note.

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