VNUNet: As Japan, like much of the rest of the world, sinks ever deeper into recession, two of its electronics giants, Sony and Toshiba, have posted significant losses for the past quarter, blamed on dwindling corporate and consumer demand.
Sony posted an operating loss of almost ¥18bn (€154m). Nearly ¥16bn (£136m) of the loss came from Sony’s electronics division. Toshiba is also finding the economic downturn hard to deal with, announcing an operating loss of ¥158.8bn for the quarter.
Both companies appear to have fallen victim to reduced consumer demand and a strong yen, making Japanese goods more expensive in the international market. They also face increasingly stiff competition from South Korean rivals Samsung and LG Electronics.