You are here

Sony shares slump after profit-forecast cut, Q2 loss

Group should reduce costs, launch more aggressive product, business reform: Fitch


SONY Corp lost US$2.2 billion in market value yesterday after chief executive officer Kazuo Hirai cut his earnings forecast and posted a loss because of stalling demand for Bravia TVs, Cyber-shot cameras and Hollywood movies.

The stock slumped 11 per cent in Tokyo trading,...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to