Sony earnings forecast about-face
Despite the torrent of bad news Sony Corp. has faced in recent months, today’s revised earnings forecast shifted yearly earnings through March 31 in a positive direction: from losses of ¥10 billion (US $86 million) to gains of ¥70 billion (US $600 million). Still, the turnaround may be more attributable to the weak yen and strong Japanese stock market performance than to any factors within Sony, according to reports. Sony is still in the middle of a massive restructuring plan, and announced today that their AIBO and QRIO robots will soon cease production.
The Japan Times has the story, while Business Week provides some additional analysis (albeit before the official announcement by Sony).
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