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Sony debt rating lowered near junk

Moody's drops long-term bond rating to lowest investment-grade class; TV losses and declining PSP/Vita sales cited.

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LX-General-Kaos1357d ago (Edited 1357d ago )

That is not good at all. Hopefully something is done about this quickly before it is too late.

Not quite sure if the TV division can be saved at this point. Lets just hope Sony's fortune changes in the gaming division, specifically hand held with the Vita. Which had seen some of its lowest sales numbers in its career in Japan since launch. Moving under 5000 last week in its home region. Though I am sure Sony has a plan in place to change their misfortunes.

On a more positive note. The original PSP seems to still be selling a decent amount. Even more than the recently released Vita many years into its life span according to recent charts. There is still money to be made in that regard.

Rated E For Everyone

profgerbik1357d ago (Edited 1357d ago )

You live in Japan? You been to Japan and seen the hideous games they love?

Why care about what sells in Japan if you don't live there? I know I sure don't and Japan is not some standard for gaming anymore.

They used to be but not anymore. Their taste in games has sadly not changed at all since Nintendo was first released. So I could careless what they think or let alone what is selling there, they are becoming crazy but everyone is becoming more easily taken advantage of and less aware of anything they actually spend their money on.

Also what is hurting everyone in gaming right now is these stupid IOS games and Android games and most developers are cashing in on these easy to make games while paying no attention to consoles or handhelds anymore.. Plus people have become idiotic casual gamers who play anything remotely decent and call it amazing like Angry Birds..

Don't believe me ask Nintendo...? They sell the most in Japan and are still hurting just as badly as Sony if not worse.

They are reporting losses literally close to 1 billion just late last year.. simply because just like America is obsessed with smart phones and tablets for some crazy reason, Japan is now becoming the exact same way and it is hurting gaming entirely is what none of you seem to understand.

Instead every idiot focuses on Sony instead of looking at the big picture. When Windows 8 is trying to move to tablets and change computers to tablets.. That is the point.. everyone is trying to adapt to this stupid era we live in currently where smart phones and tablets are thought of to be the most amazing devices on the planet right now.. which they are far from.. it is almost like we are going back in history with these stupid devices and starting all over, discarding everything else people worked a built foundations for like consoles, handhelds and PC's.

They might not have a track history like Sony simply because Sony has always focused more on the U.S. than Japan and they have more gaming divisions here and only like two in Japan so their sales are never going to shine in Japan get over it, none of that even matters right now when everyone is suffering from these changes.

I don't blame them if they stuck around and made the games Japanese people only liked, Playstation would be in far worse of a situation than they are now not even selling anything anywhere else either.

You people who disagree obviously don't understand a lick of business.

icewater851357d ago

That statement about their taste is completely wrong in regards to it needing to change. If that were true we would not be getting so many re-releases of older games. There certainly wouldn't have been as big of a fuss as it was about PS1 games not being on the Vita.

omarzy1357d ago

I don't live in Japan, but i care and you should as well. Maybe you forgot, but 2/3 of home consoles and 100 percent of the dedicated handheld gaming come from Japan. What do you think happens when Japanese companies cannot sell product in Japan? You think they will just say oh, well lets just focus all resources to shipping our products overseas so we can get bitten in the ass by currency exchange and lay off all our Japanese devs because they are not needed anymore.

How can you possibly not care about how well Japanese product does in Japan just because you do not live there.

chukamachine1357d ago

Never really been into japanese games, not saying they are bad. Just not my thing, well most of them.

Obviously GT5 and some others, mainly racing games for me.

But Sony should really be pushing the PS3/VITA like mad over there.

Wii is dead, getting in before wii u.

Gr811357d ago (Edited 1357d ago )

Wow. That was one of the worst uninformed, intellectually lacking, borderline offensive ranting post I've seen here in a long time. Congratulations!

But you are greatly mistaken. Especially if you think Nintendo is in worse financial shape than Sony. If you really believe that then it is you sir that knows nothing of business.

Japan gaming tastes may differ from yours, so? Sony's problem is more than that because Vita's aren't selling well in any region. Since this gen launched Sony has lost billions upon billions of dollars. They went from a net worth of what? 100 billion dollars in the 90's early 2000's? To having a net worth less than Nintendo, a much much MUCH smaller company.

Sony is in trouble, big trouble and no amount of ranting or raving will change that. Economic conditions, bad business decisions have compounded Sony's dire predicament. You sound like the Sega fanboys before Dreamcast launched.

Sad.

bintarok1357d ago

"...and the explosive growth of smartphones is cannibalizing demand for Sony products like cameras and the PlayStation Vita." -2nd paragraph

To many, it is almost unreal to see smartphones becoming so powerful and more focused for personal entertainment, beating dedicated devices even at higher prices.

iDon't wanna be judgmental at this point tho.

Hydrolex1357d ago

guys, please stop writting Essays, we don't have time to read them :0 !

Flavor1357d ago

You spoke an inconvenient truth, the consumers cannot understand you.

Most gamers are passive thinkers with low aggression and even lower insight, the type of people who miss subtle humor and are incapable of thought not based on ingrained emotions.

They are the kind of people that allow a drug addict friend to destroy themselves then ask 'How could this happen?'. So naturally they disagree with you, prof.

GribbleGrunger1357d ago (Edited 1357d ago )

Why the hell are people disagreeing? Come on, think about what he's saying here. He's not attacking anyone personally, he's got passion and he can think intelligently... or is that the problem?

'it is almost like we are going back in history with these stupid devices and starting all over, discarding everything else people worked to built foundations for like consoles, handhelds and PC's.'

He's SPOT on there. Can't you people see how this industry is going backwards and calling it 'forwards'? How far do we need to go backwards before people see the obvious? Stop reading the script and playing to the camera people. THINK FOR YOURSELVES.

profgerbik deserves respect.

HardcoreGamer1357d ago

i think you made 100 percent sense. but unfortunatley, we are heading in this crap a%% Era of change. you wont see uncharted , halo, or even gta soon. ppl will make dance games angry bird sequels. and put people on fast track lives, they dont understand but giving in

SegataShanshiro1357d ago

because he is a Weaboo, he wishes he were japanese

kopicha1356d ago

@profgerbik

you are an extremely selfish dude. so the rest of the world should not care even if your country explode out of this planet? Because we dont live there. Please....

pixelsword1356d ago (Edited 1356d ago )

profgerbik is right, and I'll simply prove it:

He's basically saying that a device that couldn't handle a game from the PS2 era properly is taking over.

So, those who disagree, how is he wrong, or is that statement wrong? Do these phones in fact possess as much power as the PS4 and nextbox 9before we even know what they are?) How about the current consoles?

At any rate, people who never lived through a one-console dominance like the NES era never had to endure the horrors of what one console could put devs and gamers through.

Imagine if every game for a gen or two were nothing but sequels.

Imagine if you had to pay a monthly subscription.

Imagine that every game was forced to not have multiplayer or it wouldn't be made.

If the industry makes a big slide towards one console, the first thing that will be stopped will be the next gen, as the less-powerful games will dominate, so every next-gen game will be put on hold, which means that developer staffs will likely be cut, which adds to the problem.

Which is exactly why this gen lasted as long as it has. It's a symptom of a much bigger problem.

t0mmyb0y1356d ago

What ever happened to comments that weren't novels?

Realplaya1356d ago

So if I like red and you like blue i'm an idiot?
The truth is we need japan just as much as they need USA But we shoun=ldn't knock others taste. That makes you sound like the idiot.

miDnIghtEr20C_SfF1356d ago

I'm going to remember some of these names when NPD numbers come, and the guys that say, ya but what about Japan? They're going to be the same that in here say Japan doesn't matter.

:) Can't wait.

AsimLeonheart1356d ago

Your opinion about Japanese preferences is very narrow-minded. You need to understand cultural differences and preferences. America is not the central of the world and nor their tastes are the best or absolute. Western obsession with shooters, space marines and crime based games probably seems just as silly to the Japanese. In the end everything is relative when it come to culture so you cannot say they need to change.

+ Show (13) more repliesLast reply 1356d ago
nukeitall1357d ago (Edited 1357d ago )

That article had so much bad news, it is amazing the darn company still operates. Sonys best division are the gaming, and digital imaging, but this doesn't sound good either:

"The service noted that operating profits from Sony's digital imaging and games offerings were down 60 percent for the first half of the fiscal year, and it only expects that decline to worsen."

It is rapidly heading towards "too late", and this is just the first nail in the coffin. I can't believe Sony is deteriorating that fast though. Stay alive because we need you to keep competition in the market, even though you are putting up pretty weak competition right now.

DigitalRaptor1357d ago (Edited 1357d ago )

Putting up pretty weak competition? coming from the Microsoft fanboy, this is no surprise statement. Do you mean sales, or games? maybe so on the Vita front, but Sony is not lacking on any of those fronts otherwise so....

Looks like the doom and gloom will continue, but i bet in 5-10 years Sony will still be here building consoles and making games. Sadly people only concentrate on the bottom line, and neglect advances in other areas and investments and behavior that will shape their future growth . Think Gaikai and the next gen PSN.

nukeitall1357d ago

@DigitalRaptor:

I won't bother mud-slinging regarding your fanboy comment, but will point others to your comment history for reference of who the fanboy is.

"Think Gaikai and the next gen PSN."

If Sony can't get their ass in gear with the current PSN and the only real update is a long time coming with the PS Store I have little hope.

Gaikai whom is a competitor to a basically bankrupt company called OnLive. You know the biggest player in that market? Doesn't that tell you something?

All the Japanese titans are deteriorating fast including Sharp, Panasonic and even Sony.

I hope they stick around, because they all make some great products.

"Do you mean sales, or games? maybe so on the Vita front, but Sony is not lacking on any of those fronts otherwise so...."

Competition statement meant overall not just gaming, but for a company that used to dominate the industry and has the record for most sold console just this last generation whom now is on par with a weakling like Xbox it begs the question and where the company sits now.

XabiDaChosenOne1357d ago

@Nuketail What other major updates to the PSN could Sony offer right now that would be relevant? It's 6 years into the consoles life cycle, Sony is not loooking into over hauling the PS3s Network infastucture this late in the game. Besides, there is no need to. PSN is an excellent service.

Also, what was the point of bringing up OnLive, what vague message are you trying to portray here? Regardless of you inane and irrelevant reference I'll tell you something right now. You would be a fool to lose hope in PSN with the direction Sony is taking it. Than again you are a 360 fan so your "hope" is irrelevant but I digress, with PSplus, Gaikai, and the PSvitas PSN infrastructure as a blueprint for the PS4 (free cross game chat FTW) Sony is set to make headlines with PSN next gen which is fortunately right around the corner. It's inevitable.

Myst-Vearn1357d ago (Edited 1357d ago )

Damn Sony need to do something about their failing business and quickly

layoffs alone will not do it, they need to increase their revenues

Jihaad_cpt1356d ago

Who would trust rating agencies anyway? I mean they completely missed that American economy would collapse? That was a much bigger oversight than Sony

profgerbik1357d ago (Edited 1357d ago )

@omarzy They haven't been for years so what is your point?

My point is that Sony has separate divisions all over the world and if worse comes to worse they wouldn't need Japan to stay in business.

If they only needed Japan to stay open, I guess every business they own would be based in and heavily rely on Japan's perception of gaming is what you don't understand, clearly it doesn't.

Yea it would hurt but you are honestly off your rocker if you think Japan is holding any of these people down, if anything it is holding people back because people like you who love to recite the sales sheets you see that come from Japan.

What are these devices only allowed to be made in Japan? Of course not, they could easily move their companies here and keep making them.

The fact still stands it is completely idiotic people focus on sales in a country that isn't affecting anything as far as we see in gaming on our side.

I never said all Japanese games suck or their taste is always the worst, I am just saying all you have to do is visit Tokyo once in your life to see the vast differences in taste Japan has game wise compared to any other place in the world. Games that would honestly never sell any where other than in Japan, that the Japanese love and are very popular there still.. as Japanese also hold onto older systems..

I mean look at what is still popular in japan, usually older games from older systems still.

From a business perspective you need to find the perfect demographic, Japan is not that anymore in terms of gaming. Sony has done better in other places for a long time now hence why they don't focus on the Japanese demographic too much as they shouldn't..

They have a very niche taste in games there and those games just would not sell here or anywhere else well at all because they are so weird and not anything anyone else expects to be normal other than people who probably live in Asian regions.

slazer1011357d ago (Edited 1357d ago )

If its doing so bad why do I see headlines like this?

http://www.reuters.com/arti...

Edit: how in the @!#& do I get a disagree for asking a question. You people are pathetic.

SilentNegotiator1357d ago

EIGHT bubbles? That's disgusting considering that all you do is troll. What happened to this website??

bubblebeam1356d ago

"What happened to this website??"

I know. I always turned to N4G in times of trouble, seeking greater knowledge and wisdom. It's those damn dirty apes I tells ya /s

SilentNegotiator1356d ago

Oh can it. This site was never so bad that the biggest trolls had 8 bubbles.

pixelsword1356d ago

@ LX-General-Kaos

Moody's isn't a worldwide standard; this is also an opinion, just like Patcher's opinion: you take it or you leave it.

Axecution1356d ago

Honestly without numbers to back this up, this entire article is meaningless

+ Show (5) more repliesLast reply 1356d ago
ylwzx31357d ago

Not trolling.. Sony would be better off as a company if they exited the console business. It seems like they never make a profit unless I am just missing something.

Chitown712911357d ago

I wouldnt say that, I just think this is their reconstructing year. It took Sony a little over 5-6 years to get in the position they are in now. Its not going get reconstructed and up and running overnight. PS4 will be there saving grace I believe. Imo gaming is their biggest business at the moment, followed by there movie industry. Sony has so much stuff under them, that I dont think they will ever fully go out of business. It just wouldnt make sense. Sony will rise again, theyre just in the rebuilding process, give em time.

MariaHelFutura1357d ago

It`s the TVs, gaming makes them lots of money.

lashes2ashes1357d ago

If Sony did that the company is screwed. The playstation division is the only money making division in Sony right now. They have stated that several times in the last six months.

mcstorm1357d ago

I would not worry too much sony are just about to come out the worst 10 years they have ever had. Sony will be fine just like Nokia will be as they are changing things at the top and in there hardware and software.

Anon19741357d ago (Edited 1357d ago )

OMG! So Sony went from having "STRONG capacity to meet its financial commitments" to having "ADEQUATE capacity to meet its financial commitments"? They now have the same credit rating of the entire country of Thailand!

I remember when Toshiba's debt was downgraded to Baa2 years ago. We all know Toshiba went belly up shortly after. Oh wait...they didn't? And Panasonic is also Baa1?

Someone call the waambulance. Casualties incoming.

Edit: I just saw they guy below commenting about how "America could have chosen a businessman for president" to get America going. I'm not from the US, but that made me smile. A businessman who's job as a businessman was to buy companies and often break them up and sell them off bit by bit. When he was at Bain he only made money on about half the deals he was involved in. Having a guy like that manage your economy makes as much sense to me as having an undertaker diagnose your cough.

But hey, I'm just glad I don't have to put up with the nonsense of US politics. Seriously, I follow US politics and the things you people argue over and the things your politicians say just leaves me open mouthed in disbelief a lot of the time. I consider myself quite conservative and have always voted as such but the things conservatives say in the US...man oh man. There's conservative and then there's "we just stepped out of a 1880's time machine" conservative.

IQUITN4G1357d ago

But just look at all those Sony exclusives, that's all that matters right?

Fact is the game has completely changed this time round and as surprising as surely is to anyone, Sony can't ride it's own wave any more. I would have never predicted the state Sony is in right now

At least the guaranteed mega success of All Stars will save the day

jujubee881357d ago

I wanna punch you in the face >.<

Cocozero1357d ago

Hopefully they will last long enough to bring out the PS4.

I have a feeling if a 1st party studio fails to deliver they will be closed downed quickly to save money.

As for Vita, it better pick up this christmas or I can see it being dropped.

LAZL0-Panaflex1357d ago

2 words....global recession!

Obama won...stock market crashed 2 days in a row.
Companies are planning massive layoffs.

If America is sick, everyone else is REALLY sick.

We couldve chose a businessman to turn get us out of this tailspin, instead we chose...a lawyer/community organizer who couldnt jumpstart the economy for four years,...now hes back with the same senate, and the same house.

With OUR unemployment going up and it will...whos gonna buy all japan's products? Whos gonna buy anyones junk in a deep...dark GLOBAL depression.

The us government taxes small business (70% of all business), they layoff people to make their budget, the people go on welfare and scale back recreational spending, companies like sony are forced to cut back, more unemployed who will spend less.

Less games, less innovation, less education, just barely getting by,...when capitalism was kicking ass everyone had a piece of the pie nintendo, ms, sony, apple, samsung, nokia, now its just the most popular,

Welcome to the third world!

And so it begins...

lashes2ashes1357d ago

You do know unemployment has been going down not up right. Turn off Fox News and stop letting bible thumpers tell you facts they just made up. The majority of this country voted democrat. He even won the popular vote. Here is a great idea you do not like the president good for you, you should really make a statement to let him know. like leave the country or kill yourself

majiebeast1357d ago

Republican logic its almost as good as republican math.

SAE1357d ago (Edited 1357d ago )

America is not the world , we lived before it came and we can live without it , i for one wish if the government of america gone because they are the reason of the chaos in my country , they involve in everything and when we blame them they say they don't interfere , they are keeping the dictators in our countries , they sell weapons , they steal oil , they hide the truth , they even make wars here like in iraq , they are the devil here , if wasnt of them the rulers here would have gone last year and the people would have ruled there own country again , but noo '' bahrain is a strong ally to america -.- ... ''

they encourage to make a dialogue and stop violence but in the same time they sell to the government weapons such as poison(in the name of tear gas) , shotguns ( that should have used for animals) , basically tools to silence killing ...etc , they even train the mercenaries here in the fifth army ..

even your own country is in chaos because of there greed to control the world and revenge

LAZL0-Panaflex1357d ago

Cant argue with liberals. Incapable of using logic, only resort to name calling and scare tactics. I dont watch fox news neither insignificant liberal troll. I believe NO president should be in power longer than 4 years, republican or democrat. Its common sense though you raise a job creators taxes too high,.....theyre probably gonna fire people. I know this is over u libtards heads which is why im not bothering to add commas or spell correctly, c?

SilentNegotiator1357d ago

"You do know unemployment has been going down not up right"

Well, from one of the highest rates it has ever been. I'm not agreeing with Lazlo, but your little "go kill yourself" paragraph is hardly balanced itself. All you really did was blurt out a bunch of political cartoon tropes and point out that the unemployment rate was lowering from the ~10% it got to under Obama.

TronEOL1356d ago

Really? The world gets "really sick"? So far, my country is having some of it's best years, even managing to have a higher dollar than the US, which is a HUGE improvement since it was much, much lower only 10 years ago.

Just because the US falls doesn't mean at all that the rest of the world will feel it.

+ Show (3) more repliesLast reply 1356d ago