Sony Chairman believes “PS3 making a comeback”, stockholders say otherwise

Sony Chairman believes Sony Corporation is looking to make a comeback and start turning the financial reds into blacks, and eventually profits. The Chairman of the company Howard Stringer addressed stockholders in the annual shareholder meeting and announced that “we [Sony] will shift Sony from recovery to profitable growth.”

As most would remember, the company suffered heavy financial losses with the battery recall and the release of the Playstation 3. While the battery issue has been resolved, recouping the PlayStation losses is an uphill battle for the company. Stringer spoke on this issues and disclosed how they planned on recouping:

All the production problems have been solved. We are making a comeback already. We always lose money in the hardware initially, and we recover that money gradually. We believe that the PS3 going forward will be vital to our future, and succeed.

Stringer was stating a fact when he said that Sony was recovering, its shares did rise by a good 27% this year. Unfortunately, Stringer’s enthusiasm did not seem to rub off on the investors with Sony shares dropping by 1.51% in Tokyo after the shareholder’s meeting. Keep checking back here for the latest industry news.

Via Yahoo

Sony Chairman believes Sony Corporation is looking to make a comeback and start turning the financial reds into blacks, and eventually profits. The Chairman of the company Howard Stringer addressed stockholders in the annual shareholder meeting and announced that “we [Sony] will shift Sony from recovery to profitable growth.”

As most would remember, the company suffered heavy financial losses with the battery recall and the release of the Playstation 3. While the battery issue has been resolved, recouping the PlayStation losses is an uphill battle for the company. Stringer spoke on this issues and disclosed how they planned on recouping:

All the production problems have been solved. We are making a comeback already. We always lose money in the hardware initially, and we recover that money gradually. We believe that the PS3 going forward will be vital to our future, and succeed.

Stringer was stating a fact when he said that Sony was recovering, its shares did rise by a good 27% this year. Unfortunately, Stringer’s enthusiasm did not seem to rub off on the investors with Sony shares dropping by 1.51% in Tokyo after the shareholder’s meeting. Keep checking back here for the latest industry news.

Via Yahoo

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