Blue Earth
Glazer's Camera

Sony Expects Third Consecutive Annual Loss


In the wake of the earthquake and tsunami that struck Japan in March, Sony has projected that it wall end the year with a $3.2 billion dollars of loss. Sony had nine plants that either were damaged or experienced shutdowns as a result of the Japan 9.0-magnitude quake.

This is the second time the consumer electronics-company has taken a drastic hit as a result of earthquake damages. In 1995, a 6.9-magnitude earthquake in Kobe, Japan, caused Sony's net revenues to drop by $3.5 billion.

Combined with string of PlayStation hacker complications that exposed 100 million online customer accounts, 2011 has been a struggle for Sony. Although the company has said it still hopes to make a $975 million profit by the end of its next fiscal year, it is still possible that Sony will end up with a loss for the third year in a row.