Sony slashes earnings forecast by almost $1 billion!

The other day Jay Leno said that the economy was so bad, people couldn't afford to pay attention any more. Well, the tech industry needs to pay attention to this.

The other day Jay Leno said that the economy was so bad that people couldn't afford to pay attention any more. Well, the tech industry needs to pay attention to this.

Sony has just slashed its earnings forecast for the 2008 fiscal year by almost $1 billion. Sony now predicts earnings to be in the region of 150 billion yen, or $1.5 billion, down from a forecast issued in July of 240 billion yen, or $2.4 billion.

Areas that Sony predict will be down include:

  • Flat-screen TVs
  • Digital cameras
  • Video cameras

Interestingly, the company doesn't mention games consoles.

I think that on a positive note for consumers, those with cash in their pockets should benefit from the inevitable price drops that we'll be seeing over the next few months as companies try to coax shoppers to part with their green.

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