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Sony shares plunge 15%
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Sony is planning a multi-billion dollar revamp
Sony shares have plunged by 15% as investors punish the firm for surprisingly weak results.
Almost $8bn has been wiped of the value of the world's leading consumer electronics maker since it made the shock announcement last Thursday.
The sharp decline in Sony's share price sent the wider Japanese stock market down 1.2% to close at new 20-year lows on Monday.
Sony's shares closed at their weakest level in seven years after falling by the daily limit for the second consecutive day of trading.
Investors have not been comforted by Sony's decision to embark on a multi-billion dollar three-year revamp to address the decline.
The company, creator of the PlayStation and maker of last year's hit film Spider-Man, said it lost 111bn yen (£579m; $923m) in the first three months of 2003.
This was almost 20 times the loss for the same period last year.
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Raed it an weape Ninteh fanbouus!!!! Da PS2 maeks mo' moneh and Sony iz tacin ova du wuuuulrd!!!
roffle roffle!!! Wiv class gaems liek GTAVC, nuffin can stop Soneeeeeeeeeee!!!
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Sony is planning a multi-billion dollar revamp
Sony shares have plunged by 15% as investors punish the firm for surprisingly weak results.
Almost $8bn has been wiped of the value of the world's leading consumer electronics maker since it made the shock announcement last Thursday.
The sharp decline in Sony's share price sent the wider Japanese stock market down 1.2% to close at new 20-year lows on Monday.
Sony's shares closed at their weakest level in seven years after falling by the daily limit for the second consecutive day of trading.
Investors have not been comforted by Sony's decision to embark on a multi-billion dollar three-year revamp to address the decline.
The company, creator of the PlayStation and maker of last year's hit film Spider-Man, said it lost 111bn yen (£579m; $923m) in the first three months of 2003.
This was almost 20 times the loss for the same period last year.
=================
Raed it an weape Ninteh fanbouus!!!! Da PS2 maeks mo' moneh and Sony iz tacin ova du wuuuulrd!!!
roffle roffle!!! Wiv class gaems liek GTAVC, nuffin can stop Soneeeeeeeeeee!!!
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Although with tickets at that price you could also buy shares in the corresponding cinema, and watch that go bust too.
Watery Salamander wrote:
> Why would Nintendo fanboys weep at the losses of Sony?
Because if SOny disappear, all the crap games made by THQ etc go onto the GC and push out sales of good games, making Nintendo go bankrupt and causing the WORLD TO END!
> Why would Nintendo fanboys weep at the losses of Sony?
Because if SOny disappear, all the crap games made by THQ etc go onto the GC and push out sales of good games, making Nintendo go bankrupt and causing the WORLD TO END!
Perhaps Sony will bring the price down a bit now.
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