Sony Issues Profit Forecast Shock Warning

Did you hear? The economy is in the shitter. Big companies like PS3 platform holder Sony are feeling the pinch. The company has now issued a whopper of a profits warning that cuts its earning forecast by 57 percent. Previously, Sony expected to pull in $US4.7 billion from its game consoles, TV screens and electronic devices. Now, Sony expects to hit $US2 billion in profits. The dip is the result of a weak global economy and a strong yen that hurts its export business. Analysts, though, say Sony will be lucky to hit $US500 million in profits.

Sony issues shock profits warning [Times Online via MCVUK] [Pic]