Sony Profits Plummet 94%

[Tommy Tallarico]

Heavy costs associated with the PlayStation 3 combined with Sony's major laptop battery recall have taken their toll on the company's bottom line, as profits plunged in the latest quarter. More within...

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(Link to GameDaily.com)

[Shin Johnpv]

94% holy shit ouch right there

[kingoffighters]

Crab battle ensures.

[Bojack]

Good, Sony deserves to go out of business.

[Andy]

Good, Sony deserves to go out of business.

And the thousands of people they employ deserve to lose their jobs am i rite.

[Bojack]

And the thousands of people they employ deserve to lose their jobs am i rite.

Um yeah that's the harsh mistress of capitalism. A company, despite its size, that does things that have come to light recently deserves to go out of business. If your company is doing shit like hiding software code that automatically loads spyware onto your computer when you play a music album amongst other things deserves to fail. Sucks a lot for their employess that certainly don't "deserve" to lose their jobs but that's what happens when you work for a company with piss poor ethics and business tactics. Enron employees didn't deserve what they got but it's better off for the economy for Enron to have gone out of business.

[Brand X]

Did you actually just compare Sony to Enron?

[Razor Ramon]

Some things actually fit, but I agree those two companies are very different Enron went down for some shit that has nothing to do with business just shady accounting.

They're still turning a profit so they won't be going anywhere. It's once they fall in the red is when they will shit bricks.

[sethsez]

Yes, 94% is a big number. No, it doesn't remotely mean that Sony is going out of business any time soon. Their profits are down 94%, which means that they still, in fact, made a profit. It certainly wasn't as high as it could have been, and I'm sure some higher-ups aren't happy about this, but companies have survived with losses for years before turning themselves around, and this isn't even a loss.

[J2d]

Their gaming division is one of the few departments that is profitable if I remember correctly so it probably is a pretty big deal for Sony.