Menu
OS X Yosemite Release Details

OS X Yosemite Release Details

iMac with 5K Retina Display Details Unveiled

iMac with 5K Retina Display Details Unveiled

iPad Air 2 Details Unveiled

iPad Air 2 Details Unveiled

Gal Gadot Will Feature in Ben-Hur After Wonder Woman

Gal Gadot Will Feature in Ben-Hur After Wonder Woman

Black Friday 2014 iPad Deals will be Amazing

Black Friday 2014 iPad Deals will be Amazing

Sony TVs Drive Company Back To Profit

Jul 29 2010, 10:04am CDT | by , in News | Hot Gadgets

Sony TVs Drive Company Back To Profit
 
Buy Sony from Amazon Cyber Monday and Black Friday Now
 
Full Story

Sony TVs Drive Company Back To Profit

Surprising analysts and consumers all around the globe, Sony today announced its annual earnings and reported a profit - thanks largely to its core electronics business, and specifically its high-end HDTVs.

The company posted a 25.74 billion yen profit for the past fiscal year, or around $300 million. That may not sound like a huge success story, but keep in mind that Sony last year posted a net loss of more than 37 billion yen.

"This is surprisingly good news for investors. Sony's forecasts in May disappointed many investors, but this revision shows that the company was being very cautious, perhaps overly cautious," said analyst Nobuo Kurahashi in a Wall Street Journal article.

Its PlayStation division is beginning to turn the corner, and that helped bring a 2009 loss into a 2010 profit, but it was in the company's electronics division that it performed the best.

Most notably is in its HDTV sales, which were profitable throughout the entire year. This news comes as Sony begins to delve in 3D TV sets, having just launched some of the most expensive models in what is already a high-cost market.

After posting its results, Sony became a bit more optimistic, increasing its revenue, sales, and profit forecasts for the rest of the calendar year.

Updates

Shopping Deals

 
 
 
 

Comments

blog comments powered by Disqus

Latest stories

Apple Retaliates For Bose Suit
Apple Retaliates For Bose Suit
Bose’s recent lawsuit has Apple on the offensive
 
 
Johnny Manziel Says He's A lot More Confident
Johnny Manziel Says He's A lot More Confident
Despite being relegated to the backup quarterback position, the Cleveland Browns' Johnny Manziel feels more confident as the 2014 NFL season wears on.
 
 
 Peyton Manning Breaks Brett Farve's TD Record
Peyton Manning Breaks Brett Farve's TD Record
Manning sets all-time record at 509.
 
 
Ray Rice Could Play In 2014
Ray Rice Could Play In 2014
"All of that could be resolved by mid-November."