Sony stock falls 6% after projections of $2 billion loss

Shares of Sony fell sharply Wednesday morning after the Japanese electronics company said it will likely lose $2.15 billion for the fiscal year.

It had initially forecast $488 million in losses through through March of 2015, but had to revise those projections due to problems in its mobile phones division.

Investors did not take the news well, sending share prices plunging in pre-market trading by 10%. As of 11:15 a.m., the company's stock had climbed back slightly. It was down 6.22% to $18.99 having closed the previous day at $20.25.

Sony's most profitable smartphone division faces declining sales amid increased competition from Apple, Samsung and other manufacturers. It has also struggled to boost sales in its TV set manufacturing and PC businesses.

The latest revision to its forecast marks the sixth time that Sony CEO Kazuo Hirai has had to push projections downward since taking the reins in 2012.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC

Anda sedang membaca artikel tentang

Sony stock falls 6% after projections of $2 billion loss

Dengan url

http://wartegjokowi.blogspot.com/2014/09/sony-stock-falls-6-after-projections-of.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Sony stock falls 6% after projections of $2 billion loss

namun jangan lupa untuk meletakkan link

Sony stock falls 6% after projections of $2 billion loss

sebagai sumbernya