One of the worlds largest ratings companies, Standard & Poor’s, has lowered Sony’s credit rating again to BBB+ and has also moved them into the negative column which usually signals another downgrade to come.
The reason for the downgrade is that Sony has been making a loss year on year in it’s TV division since 2004.. can you believe that it’s been 7 years since that department made any money at all and yet Sony hasn’t changed their policy of overpriced televisions since then.
Apparently this year that division is going to lose Sony a whopping R21 Billion and with no recovery seen on the horizon at all it’s likely that Sony will continue to haemorrhage cash for the next few years at least.
But it’s not all bad news, according to a previous report the PlayStation department only lost R8.32 billion last year so it’s doing better… in a terribly horrifying sort of way.
All in all Sony is not looking to be in a good place and hopefully the new president and PS Vita can turn this ship around, hey at least the captain isn’t Italian so they have a good chance still.
Last Updated: February 9, 2012