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Sony stock 24 year low. "No turnaround in sight".

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Sony stock has now dropped by pretty much 50% in the last 12 months.

Sony Falls to 24-Year Low Amid Concerns About Euro, Economy

 
By Naoko Fujimura - Nov 16, 2011 10:35 AM GMT

Sony Corp. (6758) fell to the lowest level in more than 24 years in Tokyo trading as the yen strengthened against the euro amid concern the European debt crisis is spreading.

The maker of Bravia televisions dropped 3.3 percent to close at 1,308 yen on the Tokyo Stock Exchange, the lowest level since May 1987. The Topix Electric Appliances Index, whose 154 members include Sony and Canon Inc. (7751), fell 1.2 percent and was the biggest contributor to a drop in the broader Topix index.

Sony, which this month forecast its fourth straight annual loss, led a decline among Japanese electronics stocks as the euro weakened to the lowest against the yen since Oct. 10. The Bank of Japan cut its economic assessment today as Governor Masaaki Shirakawa called the European debt crisis the biggest risk for the nation’s export-led recovery.

“The currency is another blow for Sony,” Mitsuo Shimizu, an analyst at Cosmo Securities Co. in Tokyo, said by telephone. “An earnings recovery for Sony isn’t anywhere in sight.”

A stronger yen cuts the value of overseas income at Japanese companies when repatriated. Sony gets 21 percent of its sales from Europe.

To contact the reporter on this story: Naoko Fujimura in Tokyo at nfujimura@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

 

 

The Japanese government recently did another round of investment to reduce the Yen but again it hasnt worked.... They dont have many other options left.

Heres an idea... could Sony become a software provider/publisher first and foremost?  Movies, Music and Games.



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Of course, Sony's stock can be at its lowest point in over two decades and it's not big news, but when it happens to Nintendo...



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So how the hell are they going to have the funds to launch both vita and ps4?
I suppose if either of these fail, than Sony might have to leave the console business all together



Lyrikalstylez said:
So how the hell are they going to have the funds to launch both vita and ps4?
I suppose if either of these fail, than Sony might have to leave the console business all together


The day I will leave gaming :(



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You know what this means: Nintendo is domed!



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Salnax said:
You know what this means: Nintendo is domed!

This!

               



I'm amazed they still act like a company that isn't in trouble though, ignorance is bliss perhaps.



 

If Sony goes third party, they should develop exclusively for Nintendo platforms. That way Nintendo would become the definitive leader in gaming.



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RolStoppable said:
If Sony goes third party, they should develop exclusively for Nintendo platforms. That way Nintendo would become the definitive leader in gaming.

It's mostly third party games that people love on PS so no big loss if they're gone altogether 



RolStoppable said:
If Sony goes third party, they should develop exclusively for Nintendo platforms. That way Nintendo would become the definitive leader in gaming.


I think they'd want a bigger audience than that... and nintendo own the mario and zelda trademarks.....



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