NJ5 on 15 December 2008
The analysts continue their pounding:
Sony downgraded to Underperform at Credit Suisse . Credit Suisse downgrades SNE to Underperform from Neutral saying Sony has been slow to react to the current crisis, and they believe fundamental changes to its business structure are necessary, not only reducing headcount. Unless Sony shifts development costs to software and cuts capex in the electronics business to around 50% of the current level, moving to an "asset light" structure by using EMS more efficiently and rapidly establishes a platform as a top company in the content and hardware field, the firm believes the gap with Apple and Nintendo will widen further, leading to continued erosion of enterprise value.
(capex = capital expenditure)
Source
My Mario Kart Wii friend code: 2707-1866-0957
