Sony is in bad shape. The company announced a record ¥456.7 billion ($5.71 billion) loss this week, which sent share prices tumbling on the Tokyo Stock Exchange yesterday by an incredible 6.7%. That’s a 31-year low for the Japanese electronics giant.
It’s been four years since Sony last posted any profits. They’re going to be in a world of hurt if they don’t do something drastic to turn things around in the next fiscal year.