Beginning Of The End, Sony Now Has "N*gga Credit"

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 6 years ago '07        #1
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Jago 1071 heat pts1071
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$3,929 | Props total: 6537 6537
Beginning Of The End, Sony Now Has "N*gga Credit"
 

 

Sony Corp. and Panasonic Corp. had their credit ratings cut one level by Moody’s Investors Service on concern they will have difficulty turning around their unprofitable television businesses.

Sony’s long-term rating was lowered to “Baa1,” the third- lowest among Moody’s 10 investment grades, the rating company said in a statement today. Moody’s also downgraded Panasonic’s rating one level to “A2,” the sixth-highest.

Moody’s a.ssigned a “negative” outlook to Sony and expressed concern whether the Tokyo-based company will be able to restore earnings and cash flow. Last month, Chief Executive Officer Howard Stringer sold a panel joint venture to Samsung Electronics Co. as part of a revamp of the TV business after the maker of Bravia TVs forecast a fourth consecutive annual loss, a first since it began trading in 1958.

“Sony has to rebuild its electronics segment, especially the television business,” Yoshiharu Izumi, an analyst at JPMorgan Chase & Co., said in Tokyo today.

Last month, Fitch Ratings downgraded Sony to one level above junk, citing difficulties reviving a money-losing TV business and deals that won’t improve profit.

“Sony’s earnings will remain weak and volatile due largely to its loss-making TV business, which is grappling with severe competition, sharp price declines, and a strong yen,” according to Moody’s.

Shares Tumble

Sony shares rose 3.1 percent to 1,367 yen and Panasonic jumped 4 percent to 653 yen in Tokyo trading today. The downgrades were announced after the stock market closed. Sony’s stock fell 53 percent last year, compared with a 26 percent jump in Apple Inc. shares, an 11 percent gain for Samsung, and a 43 percent tumble for Panasonic.

In November, Sony predicted a fourth consecutive annual loss of 90 billion yen ($1.2 billion) in the year ending in March 2012, reversing an earlier forecast for a profit of 60 billion yen, citing worsening demand for TVs. Sony is the world’s No. 3 TV maker behind Samsung and LG Electronics Inc.

Sony had also lowered its annual sales target for TVs, personal computers, compact cameras and Blu-ray DVD players.

Standard & Poor’s put Sony’s “A-” long-term ratings on review in November for a possible downgrade, saying there are no signs of a halt to the deterioration in earnings at the TV operations.

[pic - click to view]

 Sony Credit Rating Cut by Moody’s; Panasonic Also Downgraded - Businessweek

100 comments for "Beginning Of The End, Sony Now Has "N*gga Credit""

 6 years ago '04        #2
EGO 55 heat pts55
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$30,699 | Props total: 574 574
TV and Blu Ray business are extremely risky. You spend millions on R&D, millions on production and the newest TVs are outside of tons of peoples' price range. 3500-10,000 dollar TVs probably do well for their targets but money lost is money lost. Now you have more and more competition coming out with cheaper models and store employees are trained to tell you that they look just as good. And a lot of the time, they do look just as good. Sony doesn't compete with their newer lines until the price comes under $2000 and by that time others have already grabbed up those new tech sales. Just the nature of the business. Playstation line is not helping, either.
 6 years ago '09        #3
ShadyVsEminem 248 heat pts248
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$22,161 | Props total: 7169 7169
If they release the iplaystation everyone will buy it
 6 years ago '07        #4
Jago 1071 heat pts1071 OP
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The usual PS3 trolls are avoiding this thread like The Plague.
 6 years ago '06        #5
Kingme 10 heat pts10
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This is bad news, hope this dont make them charge for psn online.
 6 years ago '07        #6
Jago 1071 heat pts1071 OP
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 Kingme said:
This is bad news, hope this dont make them charge for psn online.
 01-23-2012, 05:46 PM         #7
LaRy BLanco 
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 Jago said:
The usual PS3 trolls are avoiding this thread like The Plague.
 6 years ago '07        #8
I bleed GREEN 50 heat pts50
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this is all cause of those sony hating xbox loyalists,aww shucks!
 6 years ago '07        #9
CadillacVyse 1018 heat pts1018
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Sell that playstation division to M$! Now we have WORLD DOMINATION! MUAHAHAHAHA
 6 years ago '07        #10
Jago 1071 heat pts1071 OP
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 CadillacVyse said:
Sell that playstation division to M$! Now we have WORLD DOMINATION! MUAHAHAHAHA
 6 years ago '09        #11
Tiko377 1914 heat pts1914
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 CadillacVyse said:
Sell that playstation division to M$! Now we have WORLD DOMINATION! MUAHAHAHAHA
Apple should buy it not ms
 6 years ago '11        #12
bd2eazy 38 heat pts38
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 Grimey Jr. said:
Jezzsman on Boxden 24/7 in the gamespot in every thread but he's not in this one:hmm:
















































 6 years ago '04        #13
DIGI 116 heat pts116
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any gains they have made or make with the gaming division is negated by the drop in revenue generated by TV sales. TV prices are DIRT cheap, so the money that they were expecting to make they can't because the prices on the market are DUMB low.
 6 years ago '05        #14
PhI|0z0pH3r 72 heat pts72
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Its stupidity on Sony's part. I heard most of their different divisions have little to zero cooperation which only hurts the company as a whole in the end.
 6 years ago '05        #15
Trizz187 13 heat pts13
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from what i heard from an old source from my former job if Sony was ever to be bought the two companies looking that way is Apple and Google but funny enough rumor has it Apple can end up buying Google and on a console level if Apple were to buy sony.. PS4 could be huge especially with a OS like the one Mac has
 6 years ago '07        #16
Jago 1071 heat pts1071 OP
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 Grimey Jr. said:
Jezzsman on Boxden 24/7 in the gamespot in every thread but he's not in this one:hmm:
 6 years ago '05        #17
Sluggernaut 21 heat pts21
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They do dumb sh*t like jump head first into something they know absolutely nothing about I.e., the playstation move. I bought the bundle and played it once, and never bought another game for it. I tried k!llzone and Socom with the gun, and ill have a better time watching a dead lab rat running through a maze. They like to forget what their goals were originally then blame it on the tsunami.

I am a ps3 fanboy by the way.
 6 years ago '10        #18
Agentzer0oo0 215 heat pts215
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 Jago said:
The usual PS3 trolls are avoiding this thread like The Plague.
 Grimey Jr. said:
Jezzsman on Boxden 24/7 in the gamespot in every thread but he's not in this one:hmm:
 6 years ago '05        #19
Y.G. 27 heat pts27
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Jizzonmen, homio the homo and the PS3Donnas really don't have nothing to say bout this?
 6 years ago '05        #20
MP 53 heat pts53
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jezzsman come come out wherever u are
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