Sony Expects Loss of $3.2 Billion

(Ping! Zine Web Hosting Magazine) – Due to a writeoff  on tax credits, Sony Corporation recently announced that it’s expecting a net loss of around $3.2 billion.

The company recently suffered from a combination of hacks that compromised the Sony PlayStation Network, along with the effects of the devastating earthquake that battered Japan, where the company is centered.

Sony has most recently faced competition from companies like Apple and Samsung, especially in the area of portable music devices.

The company had previously estimated a loss of $70 billion, but had changed the forecast due to the recent events. If the loss proves to be true, it would become Sony’s largest net loss since 1995. Meanwhile, the company is hoping for a rise in sales over the next year.