Sony shares slide as investors look beyond cost cuts

Sony Corp (6758.T) shares fell nearly 7 percent in their biggest tumble in a year after the electronics maker disappointed investors with a cautious forecast and worries mounted the euro could dull the pace of its recovery.

Sony, which once ruled the game and electronics industries with the PlayStation console, Walkman music player and Trinitron TV, is also struggling to regain its reputation as an innovator of hit products, clouding its long-term prospects.

Chief Executive Howard Stringer receives high marks from investors for cutting much of the fat out of the sprawling conglomerate through a series of major restructurings since the former journalist took the top job in 2005.

"It seems to me they're barely managing to keep up," said Takeshi Osawa, senior fund manager at Norinchukin Zenkyoren Asset Management. "In the past they often developed new products with which to compete.. but at this point it seems they're just sort of making one product after another."

fantasygamer4883d ago ShowReplies(8)
ravinash4883d ago (Edited 4883d ago )

The troubles with the Euro will effect everyone, so its not surprising that Sony would take a hit.
But this news is more about the investors returns. As long as PS3 is making money from either its console or the games, it think its safe to say they will keep the games coming.

NJShadow4883d ago

Man, this when I should be buying shares of Sony stock because I know they're gonna bounce back big time, especially with the PS3 really starting to hit its stride. Plus, with the new management, I think the company is finally going to take control of what has been a rather sporadic past couple of years.

RageAgainstTheMShine4883d ago

...things will be a okay.


divideby04883d ago

down one day up the next day, the markets are very volalite even with companies with good financials and outlooks, I dont read to much into this varainces if the company has a good finanicals

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Ransomed.vc group claims hack on ‘all of Sony systems’

CYBER SECURITY CONNECT writes: "Relative ransomware newcomers have claimed to have succeeded in what could be a devastating ransomware attack on global entertainment giant Sony.

Ransomed.vc has only been operating since September, despite some links to previous forums and groups. However, in that time, the group has racked up an impressive number of victims – and Sony is one of them."


Admin note: This may or may not have anything to do with PlayStation specifically, but as they claim to have hacked 'all of Sony systems' we'll include it as part of the rumor and allow it on N4G until it is made more clear the level of information obtained.

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1d 1h ago Replies(2)
Battlestar231d ago

Cool hope we get some info on Sony's future gaming plans like the FTC leak MS gaming plans.

23h agoReplies(4)
GamingSinceForever22h ago

Why do would their plans matter? It’s not like you’d get the games any sooner.

Battlestar2322h ago

I don't want their games as i play games on Xbox. I want info released like on Sony's 3rd part deals so MS can swoop in and make counter deals with 2 to 3 times more money.

mkis00721h ago


If ms could do that they would have already, peaked info or not. They dont have the fanbase to do it.

niiopi21h agoShow
FinalFantasyFanatic10h ago(Edited 10h ago)


Disgusting mindset. It's views like this that make me wish Xbox would gracefully bow out of the sector before we get another Windows/Disney monoply situation.

Stuart57567h ago

exactly, in fact, finding out too soon would make the wait feel longer, who wants that?

babadivad7h ago

It would be interesting to know what's coming next. We all slooth the internet for the next best thing in tech.

+ Show (3) more repliesLast reply 7h ago
raWfodog15h ago

Facts don’t matter to some people, BurritoWarrior, especially when it doesn’t fit into their agenda.

Popsicle21h ago

Somehow a question that I was legitimately asking Battlestar is inappropriate, but condoning the theft of others information for one’s own benefit/curiosity is somehow appropriate?

I am legitimately curious as to what would make someone think the way Battlestar is thinking and gave them the benefit of the doubt that they are either trolling or too young to understand the implications this has on real peoples lives. There are employees of Sony, real people, who could be heavily impacted by this.

What’s deemed inappropriate seems completely backwards in this situation IMO.

SeTTriP15h ago

I was thinking the same thing bro.xbox fans are a protected class, the vocal minority.